Mubasher: Ithmaar Holding said that the bank is executing transactions as a licensed Islamic retail bank, the CEO of Ithmaar, Ahmed Abdulrahim, said.
This bank is subject to the supervision of the Central Bank of Bahrain (CBB), as part of the restructuring project which was successfully completed in January 2017, according to a bourse statement issued on Monday.
The CEO added that the central bank’s recent decision to terminate Ithmaar’s previous licence as an Islamic retail bank comes as part of the legal procedures required for the restructuring process, in order to improve the bank’s products and services.
