His Majesty King Hamad Bin Isa Al Khalifa His Highness Shaikh Khalifa Bin Salman Al Khalifa His Highness Shaikh Salman Bin Hamad

Total Page:16

File Type:pdf, Size:1020Kb

His Majesty King Hamad Bin Isa Al Khalifa His Highness Shaikh Khalifa Bin Salman Al Khalifa His Highness Shaikh Salman Bin Hamad His Highness Shaikh Khalifa His Majesty King Hamad His Highness Shaikh Salman bin Salman Al Khalifa bin Isa Al Khalifa bin Hamad Al Khalifa The Prime Minister The King of Bahrain The Crown Prince & Commander-in-Chief of the Bahrain Defence Force IN THE NAME OF ALLAH, MOST GRACIOUS, MOST MERCIFUL PROFILE VISION & MISSION Profile Vision Established in the Kingdom of Bahrain as the first Islamic To be a leading and diversified domestic and regional Islamic commercial bank, Bahrain Islamic Bank has grown, steadily since financial institution that drives 1979 to become a leading Islamic institution with shareholders’ innovation in the industry and effectively meets the fast- funds of approximately BD75 million and total assets in excess evolving needs of the markets of BD436 million at year-end 2006. we serve. The Bank has established leadership in the application of Islamic modes of investment and financing and excelled in the provision of Mission a diversified range of products and services for retail customers, To provide value and superior commercial businesses and financial institutions. returns to shareholders, investors and customers through Publicly listed on the Bahrain Stock Exchange, the Bank is owned the continuous development of our assets and resources largely by prominent local and regional financial institutions and is including the introduction of regulated by the Central Bank of Bahrain. value-added retail, investments and corporate banking products With a strong and growing network of branches, currently and the achievement of the highest levels of service and numbered at 12, the Bank is well positioned to meet the strong customer satisfaction. and growing demand in the market for banking, financing and investment opportunities on behalf of individuals and institutions with the highest ethical standards and an unwavering commitment to the principles of Islamic Shari’a. Bahrain Islamic Bank Annual Report 2006 03 FINANCIAL SUMMARY Net Income Summary (in BD millions) 2006 2005 2004 2003 2002 Total operating income 34.3 17.7 10.8 8.9 7.9 Investors’ share in income 12.7 5.1 2.1 1.6 2.1 Bank’s share in income 21.6 12.6 8.7 7.3 5.8 Expenses and other charges 8.5 5.2 5.0 4.9 3.7 Net income for the year 13.1 7.4 3.7 2.5 2.1 Balance Sheet Summary (in BD millions) 2006 2005 2004 2003 2002 Short term murabaha 179 105 111 97 104 Murabaha receivables 101 75 52 51 36 Investments 77 85 43 39 43 Sukuk and other assets 79 57 48 45 27 Total Assets 436 321 255 231 210 Current accounts 51 47 30 29 21 Investment by non banks 153 142 129 122 122 Banks and other liabilities 157 60 43 41 29 Total liabilities 361 249 202 191 172 Shareholders' equity 75 72 53 40 38 Total liabilities and equity 436 321 255 231 210 04 Bahrain Islamic Bank Annual Report 2006 COMPOSITION OF NET INCOME TOTAL OPERATING INCOME EXPENSES AND OTHER CHARGES (BD MILLIONS) (BD MILLIONS) 34.3M 8.5M 5.2M 5.0M 17.7M 4.9M 3.7M 10.8M 8.9M 7.9M 02 03 04 05 06 02 03 04 05 06 INVESTORS’ SHARE IN INCOME NET INCOME FOR THE YEAR (BD MILLIONS) (BD MILLIONS) 12.7M 13.1M 7.4M 5.1M 3.7M 2.5M 2.1M 2.1M 1.6M 02 03 04 05 06 02 03 04 05 06 Bahrain Islamic Bank Annual Report 2006 05 FINANCIAL HIGHLIGHTS 2006 2005 2004 2003 2002 Net Income (BD millions) 13.1 7.4 3.7 2.5 2.1 Total Assets (BD millions) 436 321 255 231 210 Total Equity (BD millions) 75 72 53 40 38 Return on average equity 17.8% 12.0% 7.9% 6.2% 5.4% Return on average assets 3.5% 2.5% 1.5% 1.1% 1.0% Book value per share (Fils) 235 284 229 174 166 Earnings per share (Fils) 47 30 15 11 9 Share price (Fils) 655 522 354 270 175 Distribution - cash dividend 20% 15% 12% 10% 10% bonus shares 12.5% 12% 10% - - 06 Bahrain Islamic Bank Annual Report 2006 COMPOSITION OF ASSETS TOTAL ASSETS TOTAL EQUITY (BD MILLIONS) (BD MILLIONS) 436M 75M 72M 321M 53M 255M 40M 231M 38M 210M 02 03 04 05 06 02 03 04 05 06 RETURN ON AVERAGE ASSETS RETURN ON AVERAGE EQUITY (%) (%) 3.5% 17.8% 2.5% 12.0% 7.9% 1.5% 6.2% 1.1% 1.0% 5.4% 02 03 04 05 06 02 03 04 05 06 Bahrain Islamic Bank Annual Report 2006 07 THE BOARD OF DIRECTORS Khalid Abdulla Al Bassam Sh. Hisham Bin A. Rahman Nabil Ahmed Mohamed Khalid Mohamed Najibi Aref Ahmed Al Kooheji Chairman Al Khalifa Amin Board Member and Chairman Board Member and Member of Vice Chairman & Head Board Member and of the Executive Committee the Executive Committee Chairman of the Board of of Audit Committee Managing Director Directors, Bahrain Real Founding Member and Chairman, Liquidity Estate Company - Bahrain Chairman of the Board of Chairman of the Board of Executive Director, Najibi Management Center - Directors, Abaad Real Estate Directors and Managing Investment Company - Bahrain Chairman of the Board Company – Bahrain Director, Almadar Bahrain of Directors, Capital Chairman of the Finance and Investment Management House – Chairman of the Board of Director and Chairman Consultative Commission, Company - Kuwait Bahrain Directors, Oqyana of Executive Committee, Dubai International Properties – Kuwait Vice Chairman, Crown Industries – Bahrain Financial Center – Chairman of the Board Al-Wathaeq Takaful Dubai, UAE of Directors, Al Bassam Chairman of the Board of Board Member, Gulf Insurance Company - Investment Company - Directors, International Finance House - Bahrain Board Member, Abaad Real Kuwait Bahrain Trading & Investment Estate Company - Bahrain Founding and Board Company - Bahrain Board Member, Deputy Chairman, Member, Capital Board Member, Khartoum Boubyan Bank - Kuwait European-Islamic Vice Chairman, Rasmal Management House - Bank – Sudan Investment Bank - Holding Company – Kuwait Bahrain Board Member, Dubai London, UK Board Member & Chairman Islamic Bank Pakistan - Board member, of the Executive Committee, Pakistan Gulf Investment Abaad Real Estate Board Member, Emirates Corporation - Kuwait Company - Bahrain & Sudan Bank - Sudan Board member, Board Member, Bosnia Bank Liquidity Management International - Bosnia Center – Bahrain 08 Bahrain Islamic Bank Annual Report 2006 Adnan A. Qader Razam Mohammed Yousif Yousif Mohammed Mohammed Al Zarooq Ali Mohamed Al Olimi Al Musalam Al Roumi Al Awadhi Rajab Board Member and Member Board Member and Member Board Member and Member Board Member and Member Board Member and Member of the Audit Committee of the Executive Committee of the Executive Committee of the Executive Committee of the Audit Committee Vice Chairman, Chairman and Managing Chairman, Adeem Member of the Board of Board Member, Islamic Abaad Real Estate Director, Investment Investment Company - Trustees, Islamic- Development Bank - KSA Company – Bahrain Dar Company - Kuwait Kuwait American College - Board Member, Chicago, USA Chairman of the Board of Vice Chairman and Kuwait Finance Directors, Al-Sham Islamic Managing Director, Efad House – Kuwait Bank - Syria Holding - Kuwait Board Member, Vice Chairman, Vice Chairman, Refad Hotels Adam Company - Kuwait Almadar Finance and and Resort - USA Board Member, Investment Company - Board Member, Investment Capivest – Bahrain Kuwait Dar Company - Kuwait Board Member, Al Dar Board Member, Aston Martin Assets Management Lagonda Group Limited - UK Company - Kuwait Bahrain Islamic Bank Annual Report 2006 09 CHAIRMAN’S STATEMENT IN THE NAME OF ALLAH, MOST GRACIOUS, MOST MERCIFUL, PEACE AND BLESSINGS BE UPON HIS MESSENGER. Dear valued shareholders, There was a significant growth in the profitability per share, which rose from 30 fils at the end of 2005 to On behalf of the Board of Directors, it is my privilege to 47 fils at the end of 2006, an increase of 57 percent. present the annual report of Bahrain Islamic Bank This high level of profitability contributed to the (B.S.C.) for the year ended 31 December 2006. This increase in return on equity to 18 percent, which proved to be an excellent year for the Bank, with represents a 50 percent increase over the previous significantly improved performance across all areas of year’s figures. Significantly, this is one of the highest operations, and outstandingly enhanced value for our performance ratios of commercial banks operating in shareholders. It gives me great pleasure to report that the Kingdom of Bahrain. the record achievements during 2006, well out- performed our expectations, and that we were able to In view of these excellent results, the Board of deliver even more than we expected for our Directors has recommended to the Shareholders’ shareholders last year. Annual General Meeting the payment of a total dividend at the rate of 32.5 percent of the paid up Bahrain Islamic Bank achieved yet again another year capital, compared to the dividends distribution of 27 of strong financial results during 2006, with net profits percent in 2005. The 2006 distributable profits are increasing by 76.6 percent to a record of BD13.1 represented by a cash dividend of 20 percent in million compared to BD7.4 million the previous year. addition to the distribution of bonus shares of 12.5 Accompanying this record growth, the Bank’s total percent or one share for each 8 shares held. In 2005, assets rose during 2006 to BD436 million, an increase the profit distribution comprised the payment of 15 of 36 percent over 2005. This was primarily due to the percent in cash dividends and 12 percent bonus shares. continuous growth in Islamic finance transactions and various investment activities, in addition to realizing attractive returns on the Bank’s investments in equity holdings and real estate assets.
Recommended publications
  • Company Profile CONTENTS 04 About Us
    Company Profile CONTENTS 04 About us 05 Chairman Statement 06 Brands 12 Completed Projects 17 Certificates About Us Abdulaziz Hamad AlSaleh was founded by Mr. Abdulaziz Hamad AlSaleh (1962), an innovative entrepreneur, who established a small entity at Al Tijjar Road in Manama selling food items in the 1960s. Later, he expanded his business successfully into importing pipes, plumping and sanitary fittings. Continuing the steps of the establisher, Hamad Abdulaziz Al Saleh (the son) have made Abdulaziz Hamad Al Saleh a renowned and internationally respected company known for its honesty in dealing and transparency in serving a large customer base by meticulous planning and sound management practices. As the success story develops, now days the company holds a pioneer role in the building materials market and boasts four exclusive activities: sale of pipes, plumbing, sanitary fittings and commission agents. Currently and on the steps of Mr. Hamad Al Saleh (the son), the third generation is completingOur Mission the steps and widen the company to hold more international brands and becomes an agent of worldwide pipes & fittings agencies and tens of plumbing companies in which we represents as their major local distributor. Over the years the company has entered into various government housing and huge private real estate projects such as Hamad-Town, Bahrain Financial Harbor, Gulf Hotel, Al-Dana Resort, The Ritz Carlton, Radisson Sass Diplomat Luxury Apartments, Amwaj Islands ,Al-Areen Resort, Riffa- Views, One and Only Resorts (Jumaira Royal Sarray) , Juffair Mall etc. The company has also contributed in the foundation and supplying of plumbing products to major medical institution in the country such as Ibn-Al-Nafees Hospital, Bahrain Specialist Hospital, Salmaniya Emergency Ward, BDF Theater Rooms and Al Noor Specialist Hospital etc.
    [Show full text]
  • President's News Digest
    PRESIDENT’S NEWS DIGEST 06 OCTOBER 2019 – VOLUME 4 - ISSUE 49 MESSAGE FROM THE PRESIDENT o Message from the President Welcome to the 49th issue of the 4th volume of the President's News o The College of Arts and Science Digest. In this issue of the News conducted Students Orientation Day Digest, I will address the subject of for the first Semester from the “The History of the Educational Academic Year 2019/2020 System in Bahrain”. o Future Cooperation between ASU and the Capital Governorate Bahrain is celebrating this year the centenary of formal o Interview with Alumnus education in the Kingdom highlighting the outstanding achievements of the educational sector. 100 years of formal o Quote of the Week education bring pride to an island that it is small in size but big in ideas and accomplishments. The World Economic Forum Competitiveness Reports published over the last few years demonstrate the big improvements in the Education and Higher Education and Innovation areas in Bahrain. The Kingdom of Bahrain has the oldest public education system in the Arabian Peninsula which dates back to 1930 when the government became responsible for operating two pre-existing primary public schools for boys. Girls schools were subsequently established and universities started to appear in the second half of the 20th century. Literacy rates in Bahrain at around 96% as reported in 2015 is amongst the best in the World and the investment in education as percentage of GDP is at an average of around 2.5%. Schools teaching the Quran were the only source of education in Bahrain prior to the 20th century.
    [Show full text]
  • Achieving Growth in a Challenging Environment
    Achieving growth in a challenging environment ANNUAL REPORT 2016 Profile Established in 1957 as Bahrain’s first locally owned Bank, NBB has grown steadily to become the country’s leading provider of retail and commercial banking services. With a major share of the total domestic commercial banking market and the largest network of 25 branches and 61 ATMs, the Bank plays a key role in the local economy. At the same time, the Bank continues to diversify and develop capabilities to capture business opportunities in the Gulf region and international markets. Our branches in Abu Dhabi and Riyadh lead the way in this initiative. Publicly listed on the Bahrain Bourse, the Bank is owned 44.94% by private and institutional shareholders, mainly Bahrainis, 44.18% by Bahrain Mumtalakat Holding Company, which is 100% owned by the Government of the Kingdom of Bahrain and 10.88% by Social Insurance organisation. Market driven and customer led, the Bank harnesses the latest technology to people skills, enabling its 585 employees to deliver highly professional services for retail and corporate customers. His Royal Highness His Royal Majesty His Royal Highness Prince Khalifa bin Salman King Hamad bin Isa Prince Salman bin Hamad Al Khalifa Al Khalifa Al Khalifa Prime Minister King of The Kingdom of Bahrain Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister Contents Financial Summary 04 Board of Directors 08 Board of Directors’ Report 10 Statement of the Chief Executive Officer 12 Corporate Governance 14 Executive Management 24 Review
    [Show full text]
  • Protest and State–Society Relations in the Middle East and North Africa
    SIPRI Policy Paper PROTEST AND STATE– 56 SOCIETY RELATIONS IN October 2020 THE MIDDLE EAST AND NORTH AFRICA dylan o’driscoll, amal bourhrous, meray maddah and shivan fazil STOCKHOLM INTERNATIONAL PEACE RESEARCH INSTITUTE SIPRI is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament. Established in 1966, SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public. The Governing Board is not responsible for the views expressed in the publications of the Institute. GOVERNING BOARD Ambassador Jan Eliasson, Chair (Sweden) Dr Vladimir Baranovsky (Russia) Espen Barth Eide (Norway) Jean-Marie Guéhenno (France) Dr Radha Kumar (India) Ambassador Ramtane Lamamra (Algeria) Dr Patricia Lewis (Ireland/United Kingdom) Dr Jessica Tuchman Mathews (United States) DIRECTOR Dan Smith (United Kingdom) Signalistgatan 9 SE-169 72 Solna, Sweden Telephone: + 46 8 655 9700 Email: [email protected] Internet: www.sipri.org Protest and State– Society Relations in the Middle East and North Africa SIPRI Policy Paper No. 56 dylan o’driscoll, amal bourhrous, meray maddah and shivan fazil October 2020 © SIPRI 2020 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, without the prior permission in writing of SIPRI or as expressly permitted by law. Contents Preface v Acknowledgements vi Summary vii Abbreviations ix 1. Introduction 1 Figure 1.1. Classification of countries in the Middle East and North Africa by 2 protest intensity 2. State–society relations in the Middle East and North Africa 5 Mass protests 5 Sporadic protests 16 Scarce protests 31 Highly suppressed protests 37 Figure 2.1.
    [Show full text]
  • Turmoil in the Middle East
    Turmoil in the Middle East Standard Note: SN/IA/5902 Last updated: 28 March 2011 Author: Ben Smith Section International Affairs and Defence Section This note looks at the instability in the Middle East and North Africa since the Tunisian and Egyptian uprisings. Source: worldmap.org This information is provided to Members of Parliament in support of their parliamentary duties and is not intended to address the specific circumstances of any particular individual. It should not be relied upon as being up to date; the law or policies may have changed since it was last updated; and it should not be relied upon as legal or professional advice or as a substitute for it. A suitably qualified professional should be consulted if specific advice or information is required. This information is provided subject to our general terms and conditions which are available online or may be provided on request in hard copy. Authors are available to discuss the content of this briefing with Members and their staff, but not with the general public. Contents 1 Tunisia and Egypt 3 2 Algeria 4 2.1 Background 4 2.2 Unrest in 2011 5 2.3 Algeria basic information 5 3 Bahrain 6 3.1 Increasing repression 7 3.2 Unrest in 2011 8 3.3 Saudi forces move in 9 3.4 Bahrain- Basic information 9 4 Iran 10 4.1 Unrest in 2011 10 4.2 Iran- basic information 11 5 Jordan 11 5.1 Unrest in 2011 11 5.2 Jordan- basic information 12 6 Libya 13 6.1 Unrest in 2011 14 6.2 International reaction 15 6.3 Refugees 17 6.4 Libya- basic information 17 7 Morocco 18 7.1 Morocco- basic information
    [Show full text]
  • En En Motion for a Resolution
    EUROPEAN PARLIAMENT 2009 - 2014 Plenary sitting 4.7.2011 B7-0390/2011 MOTION FOR A RESOLUTION to wind up the debate on the statement by the High Representative of the Union for Foreign Affairs and Security Policy pursuant to Rule 110(2) of the Rules of Procedure on Syria, Yemen and Bahrain in the context of the situation in the Arab world and North Africa Fiorello Provera, Rolandas Paksas, Lorenzo Fontana, Nikolaos Salavrakos, Mara Bizzotto, Jaroslav Paška, Bastiaan Belder, Juozas Imbrasas on behalf of the EFD Group RE\872694EN.doc PE465.718v01-00 EN United in diversity EN B7-0390/2011 European Parliament resolution on Syria, Yemen and Bahrain in the context of the situation in the Arab world and North Africa The European Parliament , – having regard to its previous resolutions on crises in the Middle East, Syria, Bahrain and Yemen, – having regard to the U.S. President’s 19 May 2011 speech regarding pro-democracy uprisings across the Arab world, in particular in Syria and Yemen, – having regard to the statements of the High Representative/Vice-President of the Commission on Syria of 20, 11 and 6 June 2011, and on Yemen of 3 and 30 June 2011, – having regard to Council’s conclusion on Yemen of 20 June 2011, on Syria of 20 June and on Bahrain of 23 May 2011, – having regard to the Universal Declaration of Human Rights of 1948, – having regard to the International Covenant on Civil and Political Rights (ICCPR) of 1966, to which Syria, Yemen and Bahrain are parties, – having regard to the UN Convention against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment of 1975, to which Syria and Yemen are party, – having regard to United Nations Secretary General’s statements on human rights violations in Syria of 22 June 2011, – having regard to U.S.
    [Show full text]
  • Briefing April 2011
    WAR, TERROR & POLITICAL VIOLENCE WTPV BRIEFING APRIL 2011 TABLE OF CONTENTS Transnational terrorism 2 Profile: Peru 3 Worldwide political violence 4 Africa Americas Asia Europe Middle East and North Africa Rebels ride past a fuel-storage facility attacked during clashes with government forces near Sedra, eastern Libya AIRSTRIKES HIT LIBYA AS MIDDLE EAST UNREST CONTINUES The US, UK and France began airstrikes Ali Abdullah Saleh declared a state of and cruise missile attacks against Libyan emergency, suggesting that the government air-defence installations and ground forces had lost patience with mediation efforts. on 19 March. Explosions were reported However, his position weakened on 21 in the capital Tripoli on 23 March as the March with the defection of three senior coalition continued enforcing a no-fly zone generals, who declared support for the over eastern Libya. The strikes followed a opposition and reportedly positioned units in UN Security Council resolution authorising central Sanaa to protect protesters. Looting the use of ‘all necessary measures’ to and arson were reported in the southern For more information about Hiscox or protect Libyan civilians from pro-regime city of Aden on 22 March, while there were Control Risks, please contact: forces. Uncertainty persists over the exact clashes in Mukulla on 21 March. purpose of the military engagement; Stephen Ashwell proponents of intervention have pointed to Bahrain’s government on 15 March Tel: 020 7448 6725 the humanitarian need for such measures, imposed a state of emergency and on 16 1 Great St Helen’s, London EC3A 6HX though there are also some indications March forcibly removed demonstrators from [email protected] that regime change is the ultimate goal.
    [Show full text]
  • India-Bahrain Relations
    India-Bahrain Relations India-Bahrain Relations India and Bahrain enjoy excellent bilateral relations characterized by cordial political, economic and cultural contacts. Our bilateral Trade and commercial exchanges go back to about 5,000 years ago tracing their origins to the period of Dilmun Civilization in Bahrain to the era of Indus valley civilization in India. Ancient Bahraini traders are believed to have carried out flourishing trade of Bahraini pearls with Indian spices from India. Presence of around 350,000 Indian nationals who comprise a third of Bahrain's total population of 1.4 million is an important anchor of our bilateral relations with Bahrain. Recent visits to India State visit of His Majesty King Hamad bin Isa Al Khalifa: At the invitation of the then Hon'ble President of India, Shri Pranab Mukherjee, His Majesty King Hamad bin Isa Al Khalifa, the King of the Kingdom of Bahrain paid his first state visit to India from 18-20 February, 2014. HM the King was accompanied by a high-level delegation comprising Ministers, senior officials and business leaders. He was accorded a ceremonial welcome in the forecourt of the Rashtrapati Bhavan on 19 February, 2014. Hon'ble President, Shri Pranab Mukherjee hosted an official banquet in honour of HM the King which was preceded by official discussions. The other bilateral engagements included meeting with Hon'ble Vice-President, Shri M. Hamid Ansari and delegation-level bilateral discussions with Hon'ble Prime Minister, Dr. Manmohan Singh. HM the King also received Hon'ble External Affairs Minister, Shri Salman Khurshid and the Leader of Opposition in the Lok Sabha, Smt Sushma Swaraj.
    [Show full text]
  • Sheikh Qassim, the Bahraini Shi'a, and Iran
    k o No. 4 • July 2012 o l Between Reform and Revolution: Sheikh Qassim, t the Bahraini Shi’a, and Iran u O By Ali Alfoneh The political stability of the small island state of Bahrain—home to the US Navy’s Fifth Fleet—matters to the n United States. And Sheikh Qassim, who simultaneously leads the Bahraini Shi’a majority’s just struggle for a more r democratic society and acts as an agent of the Islamic Republic of Iran, matters to the future of Bahrain. A survey e of the history of Shi’a activism in Bahrain, including Sheikh Qassim’s political life, shows two tendencies: reform and t revolution. Regardless of Sheikh Qassim’s dual roles and the Shi’a protest movement’s periodic ties to the regime in Tehran, the United States should do its utmost to reconcile the rulers and the ruled in Bahrain by defending the s civil rights of the Bahraini Shi’a. This action would not only conform to the United States’ principle of promoting a democracy and human rights abroad, but also help stabilize Bahrain and the broader Persian Gulf region and under- mine the ability of the regime in Tehran to continue to exploit the sectarian conflict in Bahrain in a way that broadens E its sphere of influence and foments anti-Americanism. e Every Friday, the elderly Ayatollah Isa Ahmad The Sunni ruling elites of Bahrain, however, l Qassim al-Dirazi al-Bahrani, more commonly see Sheikh Qassim not as a reformer but as d known as Sheikh Qassim, climbs the stairs to the a zealous revolutionary serving the Islamic pulpit at the Imam al-Sadiq mosque in Diraz, d Bahrain, to deliver his sermon.
    [Show full text]
  • Annual Report 2013 Details: PDF File Size Is 1.95 MB
    2013 ANNUAL REPORT INVESTING IN GENERATIONS ENHANCING COMMUNITIES 2 I NBB ANNUAL REPORT 2013 PROFILE Established in 1957 as Bahrain’s first locally owned Bank, NBB has grown steadily to become the country’s leading provider of retail and commercial banking services. With a major share of the total domestic commercial banking market and the largest network of 25 branches and 59 ATMs, the Bank plays a key role in the local economy. At the same time, the Bank continues to diversify and develop capabilities to capture business opportunities in the Gulf region and international markets. Our branches in Abu Dhabi and Riyadh lead the way in this initiative. Publicly listed on the Bahrain Bourse, the Bank is owned 51% by private shareholders, mainly Bahrainis, and 49% by Bahrain Mumtalakat Holding Company, which is 100% owned by the Government of the Kingdom of Bahrain. Market driven and customer led, the Bank harnesses the latest technology to people skills, enabling its 560 employees to deliver highly professional services for retail and corporate customers. Corporate GOVERNANCE I 1 His Royal Highness His Royal Majesty His Royal Highness Prince Khalifa bin Salman King Hamad bin Isa Prince Salman bin Hamad Al Khalifa Al Khalifa Al Khalifa Prime Minister King of The Kingdom of Bahrain Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister CONTENTS Financial Summary 04 Board of Directors 08 Board of Directors’ Report 10 Statement of the Chief Executive Officer 12 Corporate Governance 14 Executive Management 24 Review of Operations
    [Show full text]
  • Tax Relief Country: Italy Security: Intesa Sanpaolo S.P.A
    Important Notice The Depository Trust Company B #: 15497-21 Date: August 24, 2021 To: All Participants Category: Tax Relief, Distributions From: International Services Attention: Operations, Reorg & Dividend Managers, Partners & Cashiers Tax Relief Country: Italy Security: Intesa Sanpaolo S.p.A. CUSIPs: 46115HAU1 Subject: Record Date: 9/2/2021 Payable Date: 9/17/2021 CA Web Instruction Deadline: 9/16/2021 8:00 PM (E.T.) Participants can use DTC’s Corporate Actions Web (CA Web) service to certify all or a portion of their position entitled to the applicable withholding tax rate. Participants are urged to consult TaxInfo before certifying their instructions over CA Web. Important: Prior to certifying tax withholding instructions, participants are urged to read, understand and comply with the information in the Legal Conditions category found on TaxInfo over the CA Web. ***Please read this Important Notice fully to ensure that the self-certification document is sent to the agent by the indicated deadline*** Questions regarding this Important Notice may be directed to Acupay at +1 212-422-1222. Important Legal Information: The Depository Trust Company (“DTC”) does not represent or warrant the accuracy, adequacy, timeliness, completeness or fitness for any particular purpose of the information contained in this communication, which is based in part on information obtained from third parties and not independently verified by DTC and which is provided as is. The information contained in this communication is not intended to be a substitute for obtaining tax advice from an appropriate professional advisor. In providing this communication, DTC shall not be liable for (1) any loss resulting directly or indirectly from mistakes, errors, omissions, interruptions, delays or defects in such communication, unless caused directly by gross negligence or willful misconduct on the part of DTC, and (2) any special, consequential, exemplary, incidental or punitive damages.
    [Show full text]
  • Prince Saud Is Mourned
    VOL XXXVIII No. 112 (GGDN 024) FRIDAY, 10th JULY 2015 200 Fils/2 Riyals ABC Ad new QRcode 6cm x 4col.pdf 1 2/19/15 3:48 PM Visit us at www.gdnonline.com WhatsApp us on 39451177 Millions hit Basma Ad.indd4m 1 have7/8/15 4:13 PM by London ed Syria Tube strike says UN 14 15 King hails spirit of unity MANAMA: Difficult times can always be over- the royal directives, support of the government come by reinforcing cohesion and social unity, led by His Royal Highness Prime Minister His Majesty King Hamad said last night. Prince Khalifa bin Salman Al Khalifa and fol- He was speaking as he received, at the low-up of His Royal Highness Prince Salman Muharraq Sports Club, Ramadan well-wishers. bin Hamad Al Khalifa, Crown Prince, Deputy The visit was part of the King’s meetings with Supreme Commander and First Deputy Premier. citizens of Bahrain. Dr Al Mudhahka welcomed the royal reforms He ordered that a multi-purpose hall be built and decisions made aimed at protecting the for the benefit of Muharraq citizens. homeland and citizens. His Majesty exchanged Ramadan greetings The King was presented with commemorative with the well-wishers. gifts by Muharraq Governor Salman Bin Hindi Dr Jawahir Shaheen Al Mudhahka, after recit- and Muharraq Sports Club chairman Shaikh ing verses from the Quran, hailed the develop- Ahmed bin Ali Al Khalifa. ment projects witnessed by Muharraq, thanks to More pictures – Page 2 n The King visits the Muharraq Sports Club Prince Saud is mourned RIYADH: Former Saudi Even before the 2011 MANAMA:RENTS Bahrain’s business- “This
    [Show full text]