Flip through the latest issue of Gulf Weekly.
Al Salam Bank-Bahrain has received approval of the Securities and Commodities Authority in Abu Dhabi and Dubai Financial Market (DFM) to list its share in DFM.
The date for listing will be announced within the next few weeks after co-ordinating with the pertinent parties in both Bahrain and the UAE, it was announced on Sunday.
Chief executive officer Yousif Taqi said that this move came following the decision of the bank's extraordinary general meeting held in September last year to list the bank's share in any foreign stock market and entrusted the board of directors to specify the financial market to list the share in and the timing of listing as well as to take all necessary procedures and approvals from the pertinent parties and settle any incurring charges.
Meanwhile, Mr Taqi clarified that one of the main reasons behind choosing DFM to list the bank's share in was that a large number of the bank's founders are from the UAE. The bank's general assembly held its annual ordinary meeting on February 20 where the shareholders approved the board's report on the bank's activities for the year ended 31 December 2007.
