MONDAY, MARCH 8, 2021 05

Investcorp names Al Sada head of Private Wealth TDT | BMP records 40 million

nvestcorp, a leading global Iprovider and manager of al- ternative investment products, named Mohammed Al Sada hours without LTI as Head of and Ku - wait for Investcorp’s Private Wealth. Mohammed AlSada joined Investcorp in 2008 and has held various senior roles with- in the Firm, more recently working on growing distribu- tion networks which have con- Mohammed Al Sada tributed to the rapid expansion of both the and lored investment solutions to Real Estate businesses during meet our clients’ needs across this time. alternative asset classes.” Yusef Al Yusef, the Managing Mohammed Al Sada com- Partner of Investcorp Private mented on his appointment: “I Wealth, said: “Mohammed has am excited to take on this new been a great ambassador for role and look forward to work- Investcorp and his appoint- ing closely with our team to ment not only reinforces our enhance our existing relation- commitment to maintaining ships and build new ones, as a longstanding relationship we continue to nurture strong, with clients in the GCC but also enduring relationships with reflects the strengths and high our clients.” calibre of Investcorp’s new Mohammed holds an MBA generation of leaders. We are in Management of Operations confident that his experience Technology and a BSc in Fi- Officials during a group photo session on the occasion of BMP celebrating 40 million hours without Lost Time Injury and network will play an inte- nance and Business Manage- gral role in providing superior ment, both from Bentley Col- Commenting, Dr Nassif said, Recent Construction Progress ground piping laid services and delivering tai- lege, Massachusetts. 1 Million Diameter- “On behalf of Bapco’s Lead - Milestones included: • 490 BMP Tie-ins (40.5%) • ership Team, I would like to completed in largely existing Inches of pipe express my pride and appre - • Thousands of workers en- live Plant Process areas - anoth- fabrication completed ciation to our BMP Integrated gaged at BMP Brown and Green- er 717 yet to go Project Management Team of field work areas every day and Dr Nassif added: “Achieving Bitcoin rises 4.2% to $50,947.94 70% of structural Bapco, Worley and our part- many thousands more sched- 40 Million hours is a major Reuters government’s posi- steel• of pipe racks ners TTSJV with their various uled to join them over the next safety, health and environment tion on crypto will subcontractors who continue to few months milestone, but there is still plen- itcoin rose be “calibrated” and installed demonstrate an excellent level • 1 Million Diameter-Inches ty yet to do as we move forward, B4.18 % to it wants to make of personal and process safety of pipe fabrication completed and I trust that the same en - $50,947.94 yes- sure there’s “a win- TDT | Manama performance and achievement. and 70% of structural steel of thusiasm of the workforce cou- terday, adding dow available for all This does not come by chance pipe racks installed pled with our winning diligent $2,043.31 to its previous close. types of experiments in the he Bapco Modern - but is rather reflective of team- • 6,500 Ton+ Bullet Storage and caring BMP Safety Culture, Bitcoin, the world’s biggest crypto world.” ization Programme work and supportive efforts of Vessels and 3 Cryogenic roofed will continue to help us move and best-known cryptocurren- “A lot of negotiations and Tachieved another signif- our entire BMP workforce, re- Tanks installed towards the next significant cy, is up 83.7% from the year’s discussions are happening icant health, environment and lated partners, contractors and • 207,000 cubic meters of 50 Million BMP project hours low of $27,734 on Jan. 4. The around cryptocurrency with safety milestone of 40 million stakeholders.” concrete poured Milestone over the next few currency’s peak this year was the Reserve Bank of India,” she continuous work hours with- • 65,000 meters of under - months”. $58,354.14 on Feb. 21. said. “[India’s Central Bank] out Lost Time Injury or Meanwhile, after much will be taking a call on what work-related Illness in the speculation about whether kind of unofficial cryptocur- workplace, Significant En- India will introduce a blanket rency will have to be planned vironment or Community ban on crypto, the government and how it has to be regulated.” exposure, Serious Equip- has finally dropped a major “So, we are not closing our ment/Asset Damage or Fire hint that it will not do so. minds, we are certainly look- Event. Nirmala Sitharaman, In- ing at ways in which experi- Bapco’ s Chairman and dia’s Finance Minister, said mentations can happen in the Chief Executive Dr Dawood INVITATION TO THE ORDINARY GENERAL ASSEMBLY MEETING yesterday on India’s business digital world, cryptocurrency Nassif announced this in channel, CNBC-TV18, that the and so on.” early March 2021, The Board of Directors of Arab Group (B.S.C.) is pleased to invite the shareholders to attend its 40th Ordinary General Assembly Meeting (AGM) to be held on Monday, 29 March 2021 at 11:30 a.m. through electronic communication means, to consider, discuss and approve the following business agenda items:

1. Read and approve the minutes of the previous Ordinary General Assembly Meeting of the Company held on 20 April 2020. 2. To discuss and approve the Board of Directors’ Report for the financial year ended31 December 2020. 3. To receive the Report of the External Auditors on the Consolidated Financial Statements for the year ended 31 December 2020. UAE’s first independent digital 4. To discuss and approve the audited Consolidated Financial Statements for the year ended 31 December 2020. 5. To discuss and approve the appropriations as follows: a. Transfer of US$ 1,356,000 to Legal Reserve from the current year net profit; b. Transfer the balance US$ 12,202,000 from the current year net profit to retained earnings. banking platform launched 6. To discuss and approve the Corporate Governance Report for the year 2020 and the compliance of the Company with the requirements of the Ministry of Industry, Commerce and Tourism and the Central Bank of Bahrain. Reuters | Dubai 7. To report the transactions that took place during the financial year ended 31 December 2020 with any of the related parties as set forth in named neobank using a banking note no.36 of the financial statements in line with Article 189 of the Bahrain Commercial Companies Law. licence of the country’s biggest 8. To absolve the Board of Directors from legal liability for the financial year ended31 December 2020. he first independent digi- lender, First Bank 9. To appoint or re-appoint External Auditors for the year ending 31 December 2021, subject to the Central Bank of Bahrain approval, and to authorize the Board of Directors to determine their remuneration. tal banking platform in the (FAB). T 10. Any other matters that may arise according to Article 207 of the Bahrain Commercial Companies Law. United Arab Emirates launched “The fintech revolution has yesterday, a neobank hoping to become very popular in other Important notes to Shareholders become a leader in the Middle parts of the world and we saw 1. Copies of the Consolidated Financial Statements for the year ended 31 December 2020 and the proxy forms will be available from Monday, 22 March 2021 at House, Diplomatic Area, Manama, Kingdom of Bahrain, and from Share Registrar in the Kingdom of Bahrain, Bahrain East, Africa and South Asia. a gap and unique need for this Bourse, Bahrain Financial Harbour, Harbour Gate (4th Floor), P.O. Box: 3203, Manama - Kingdom of Bahrain, Phone: +973 17 261260 or 17108836, Dubai-based YAP does not service in the Middle East,” said Fax: +973 17 256362, [email protected] or from the support Share Registrar KFin Technologies (Bahrain) W.L.L., Office No.7 ,74th Floor, have a banking licence itself but YAP CEO and founder Marwan Al-Zamil Tower, Building 31, Road 383, Block 305, P.O. Box 514, Manama, Kingdom of Bahrain. Tel: +973 17 215080, Fax: +973 17 212055 has partnered with RAK Bank Hachem Electronic version of the above reports will also be available through Arig website and shareholders’ portal at www.arig.net or www.bahrainbourse.com. 2. Any shareholder registered in the Company’s Share Register on the date of the meeting, is entitled to attend the meeting or to appoint a proxy to which provides international Hassan said there are chal- attend and vote on the shareholder’s behalf. A proxy shall not be the Chairman, members of the Board of Directors or employees of the Company. bank account numbers for YAP lenges for fintechs looking to 3. In case the shareholder is a legal entity, the person who will represent the shareholder should have a letter signed and stamped by the corporate, users and secures their funds expand to the UAE. and to be presented before the due date. under its own banking licence. “There are a lot of fintechs 4. Proxies must be registered with the support Share Registrar, KFin Technologies (Bahrain) W.L.L., Office No.7 ,74th Floor, Al-Zamil Tower, Building 31, Road 383, Block 305, P.O. Box 514, Manama, Kingdom of Bahrain, by hand or Fax: +973 17 212055, or electronically by email YAP, like other neobanks right now looking at partnering ([email protected]) at least 24 hours prior to the meeting. Any proxies received after the deadline will be void. Please also which do not have physical with banks, but that requires a include the contact number and email of the person attending the online session. branches, does not offer tra- ing, such as Revolut, one of the lot of discussion, relationship 5. Request to attend the meeting by sending an email to KFin Technologies (Bahrain) W.L.L. on ([email protected]) and ditional banking services like world’s fastest-growing apps, building ... It is not an easy thing provide a clear copy of a valid passport or a valid ID card of the shareholder or the person who represents them, at least 24 hours before the scheduled time of the meeting. After receiving the required documents and information, a link will be provided to enable the attendance to take the loans and mortgages, but offers do not have a UAE presence. to do,” she said, adding YAP’s necessary steps to join the session electronically. The device used to participate in the online session must be compatible with video and telecom spending and budgeting ana- Some UAE banks have in re- founders had an existing rela- services. We advise the shareholders to abide with the instructions to ensure a swift conduct of the meeting in line with the Laws and Regulations. lytics, peer-to-peer payments cent years launched their own tionship with RAK Bank. 6. For any queries, please contact Arab Insurance Group Investor Relations department: Tel: +973 17 544160 or email address: [email protected]. and remittances services and digital banking offerings tar- YAP is at seed funding stage, 7. In the absence of a quorum for the AGM, a second meeting of AGM will be held through electronic communication means at 11:30 a.m. on Monday, 5 April 2021 to discuss the same agenda, and in the absence of a quorum at the second meeting, bill payments. YAP is in the pro- geted at digitally-savvy and funded by founders, a private a third meeting of AGM will be held through electronic communication means at 11:30 a.m. on Monday, 12 April 2021 to discuss the same agenda. cess of partnering with banks in younger users, such as LIV by equity firm and private inves- other countries, head of prod- Emirates NBD and Mashreq Neo tors, Hassan said, adding that Chairman uct Katral-Nada Hassan said, by Mashreq Bank. more than 20,000 customers On behalf of the Board of Directors including a bank in Saudi, in Abu Dhabi state-owned hold- have pre-registered and ac - Pakistan and in Ghana. ing company ADQ last year said counts will gradually go live in Global leaders in digital bank- it plans to set up an as-yet un- coming weeks.