Bank Nizwa, Oman's first Islamic bank, hosted its constitutive general meeting (CGM) at the InterContinental Hotel Muscat, earlier this week, where the bank's first board of directors was elected. Seventy-four per cent of shareholders voted in person or by proxy to elect the first board, which includes Amjed Mohammed Al Busaidi, Amer Hamed Al Sulaimani, Abdul Aziz Saud Al Khalili, MusabahSaif Al Mutairi, Adil Abdul Aziz Yahya Al Kindi, YousufYaqoob Al Harthy, Saif Hilal Nasser Al Mawali and MuadhSalim Al Ghazali. At the subsequent board meeting, the directors elected Sayyid Amjed Mohammed Al Busaidi to be the chairman of the board and Amer Hamed Al Sulaimani to be the vice-chairman. Closer to launch Dr. Jamil Al Jaroudi, CEO Bank Nizwa said, "After successfully hosting the CGM we have come a step closer to launch Bank Nizwa. All plans are progressing as per schedule, our staff is trained and in place and our first three branches are being fitted out.- The CGM reviewed and approved the Founding Committee's report, which explained the steps taken in forming the bank and the contracts, agreements and commitments made on behalf of the shareholders, in building the organisation and moving it forward. The shareholders also approved the appointment of KPMG as the bank's auditors. Timesofoman
