Ithmaar Holding B.S.C. Convenes Extraordinary General Meeting: Key Decisions and Future Prospects

Ithmaar Holding B.S.C., a prominent investment firm licensed and regulated by the Central Bank of Bahrain, recently held its Extraordinary General Meeting (EGM) on May 29, 2024, at the Westin City Center Bahrain. The meeting was chaired by His Royal Highness Prince Amr bin Mohammed Al Faisal Al Saud, Chairman of the Board, and attended by notable figures including board members, company executives, and representatives from regulatory bodies.

The EGM was convened to discuss and make critical decisions regarding the company's strategic direction and operational framework. The meeting began with a warm welcome from the Chairman, who acknowledged the presence of shareholders, either in person or by proxy, as well as representatives from the Ministry of Industry and Commerce, the Central Bank of Bahrain, and the Bahrain Bourse.

The Chairman proposed the appointment of Mr. Ali Ahmed Mohammed as the Secretary of the meeting, a motion that was unanimously approved by the attendees. The Chairman also confirmed that the meeting invitation and agenda were published on May 7, 2024, in compliance with Article 199 of the Commercial Companies Law No. 21 of 2001 and its amendments.

Ithmaar Holding's main activities include managing affiliated companies, offering loans and financing, investing in shares and securities, owning real estate and other assets, and holding industrial property rights. The company's strategic focus on these areas was reiterated during the meeting, emphasizing the importance of robust management and strategic investments to drive future growth.

The meeting also highlighted the company's commitment to compliance and regulatory standards, with presentations from KPMG, the external auditor, and representatives from the Central Bank of Bahrain's Islamic Financial Institutions Supervision Directorate, Financial Markets Supervision Directorate, and the Ministry of Industry and Commerce. These presentations underscored Ithmaar Holding's adherence to stringent regulatory requirements and its dedication to maintaining transparency and accountability.

Looking ahead, Ithmaar Holding is optimistic about its future prospects. The company plans to continue leveraging its strategic investments and robust management practices to enhance shareholder value. The focus on compliance and regulatory adherence will remain a cornerstone of its operational strategy, ensuring sustainable growth and long-term success.

Given the company's strong market position, strategic focus, and commitment to regulatory compliance, investors are advised to hold their positions. Ithmaar Holding's future looks promising, and its strategic initiatives are expected to yield positive results in the coming years.