COMMUNITY NEWS
Specialised training for Ithmaar Group Board of Directors and Executive Management
Jul 9, 2018 4:05 PM
MANAMA, BAHRAIN – 9 July 2018 - Ithmaar Group, which includes Ithmaar Holding and its two wholly-owned subsidiaries, Ithmaar Bank, a Bahrain-based Islamic retail Bank, and IB Capital, a Bahrain-based Islamic Investment firm, commissioned KPMG and the Bahrain Institute of Banking and Finance (BIBF) to deliver two interactive training courses for members of its Board of Directors and its Executive Management team.
Specialised training for Ithmaar Group Board of
Directors and Executive Management
MANAMA, BAHRAIN – 9
July 2018 - Ithmaar Group, which includes Ithmaar Holding and
its two wholly-owned subsidiaries, Ithmaar Bank, a Bahrain-based Islamic retail
Bank, and IB Capital, a Bahrain-based Islamic Investment firm, commissioned KPMG
and the Bahrain Institute of Banking and Finance (BIBF) to deliver two
interactive training courses for members of its Board of Directors and its
Executive Management team.
The first training course, which was delivered by KPMG
Partner and Indirect Tax Leader, Philippe Norre and KPMG Senior Manager of
Indirect Tax, Ali Al-Mahroos, focused on Value Added Tax (VAT) and its
application, particularly for financial services, as well as its implementation
in the region. The second training course, which was delivered by BIBF Trainer,
Seamus Gillen, focused on how to manage and avoid conflicts of interest.
“The two training courses were designed to enhance and
further develop the skills of members of the Board of Directors the Executive Management
team and to ensure that they remain up-to-date with the latest trends,” said Ithmaar Group Chief Executive Officer, Ahmed Abdul Rahim. “The VAT training course was organised to help prepare
for the next phase of VAT implementation, while the course on conflicts of
interests was organised to update us on current international best practices.
Both course were organised in line with our long-standing commitment to
continuous improvement,” he said.
“Such training courses, at all levels within the
Group, significantly enhance our existing corporate governance, contribute to
our growth, as well as to improving our performance,” said Abdul Rahim. “To maintain our competitive advantage, we must keep up with developments within the banking industry
and the subsequent change in market requirements,” he said.
“Ithmaar has long recognised that continuing human capital development
is an important component in supporting the Group’s successful journey,” said
Ithmaar Bank Head of Human Resources, Enas Rahimi. “Our efforts to strengthening
the capabilities of our Board of Directors, our Executive Management team and
all members of the Group will contribute to our growth and help ensure
continued improvements in our performance,” she said.
-Ends -
About
Ithmaar Bank:
Ithmaar Bank B.S.C. (closed) (“Ithmaar
Bank”) is a Bahrain-based Islamic retail bank that is licensed and regulated by
the Central Bank of Bahrain and provides retail, commercial, treasury
& financial institutions and other banking services.
Ithmaar Bank is a wholly owned subsidiary
of Ithmaar Holding B.S.C. (formerly named Ithmaar Bank B.S.C.) which is listed
on the Bahrain Bourse, Bourse Kuwait and Dubai Financial Market.
Ithmaar Bank provides a diverse range of
Sharia-compliant products and services that cater to the financing and
investment needs of individuals and institutions. Ithmaar also maintains a
presence in overseas markets through its subsidiary, Faysal Bank Limited
(Pakistan).