Solidarity Group reshuffles board after acquiring controlling stake by Al Salam Bank | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Solidarity Group reshuffles board after acquiring controlling stake by Al Salam Bank | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Solidarity Group Holding, one of the largest Takaful groups in the world, announced that Shaikh Khalid Mustahil Al Mashani has been elected as Chairman of the Board effective 10 October 2022. Shaikh Khalid is also the Chairman of the Board of Directors of Al Salam Bank and Bank Muscat (Oman). Additionally, Mr. Rashed Ismaeel Al Meer was elected as Vice Chairman while Mr. Hisham Saleh Al Saie, Mr. Zayed Ali Al Amin and Mr. Rafik Nayed, Group Chief Executive Officer of Al Salam Bank, were appointed on the Board of Solidarity Group. The changes in Solidarity’s Board of Directors follow Al Salam Bank’s transaction with Ithmaar Holding (“Ithmaar Holding”), which included a 55.91% majority stake in Solidarity Group. Shaikh Khalid Mustahil Al Mashani commented: “I am honoured to have been elected as Chairman of the Board of Solidarity Group. I would like to take this opportunity to express my appreciation to my colleagues for entrusting me with this responsibility. I also wish to thank the previous board members who have diligently worked with Management to optimally position Solidarity for future growth. As a strategic shareholder, Al Salam Bank provides Solidarity with the ability to capitalize on growth opportunities and enhance