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Bahrain's Ithmaar Bank says CEO to retire on Aug 31
August 29, 2013 / 6:53 AM / 4 years ago

Bahrain's Ithmaar Bank says CEO to retire on Aug 31

DUBAI, Aug 29 (Reuters) - Bahrain’s Ithmaar Bank said chief executive Mohammed Bucheerei will retire at the end of August and be replaced by Ahmed Abdul Rahim, currently general manager, as acting head.

Bucheerei led the bank’s transition from an Islamic investment bank to a retail Islamic lender offering a range of sharia-compliant products, the bank said in a statement on Thursday.

In October last year, Ithmaar said it had received shareholder approval to merge with unlisted First Leasing Bank, in which Ithmaar held a 21.3-percent stake. (Reporting by Dinesh Nair; Editing by David Cowell)

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