Ithmaar Bank and Bahrain International Circuit donate a minibus to orphans programme
MANAMA, BAHRAIN – 14 April 2008 – Ithmaar Bank, a Bahrain-based investment bank with global reach, together with the Bahrain International Circuit, donated a 15-seat bus, worth BD9,000, to be used by orphans under the care of the Royal Charity Organisation (RCO).
At a handover ceremony, held at the Bahrain International Circuit, RCO Secretary General, Hassan Jassim Zuwayed received the keys to the minibus from Bahrain International Circuit CEO, Martin Whitaker. Also present at the ceremony were BIC Chief Operations Officer, Shaikh Salman bin Isa Al Khalifa, Ithmaar Bank Executive Director Jassim Salman and Corporate Communications Director, Luis Maronese.
The donation is in line with Ithmaar Bank’s ongoing commitment to supporting the activities of orphans. Last year, Ithmaar Bank launched the $4.2 million ‘Ithmaar Bank Education and Training Fund’, which sponsors the schooling of 16 orphans each year and also provides post graduate education to capable, young students from across the Muslim world.
About Ithmaar Bank:
Ithmaar Bank B.S.C. is licensed by the Central Bank of Bahrain and listed on the Bahrain Stock Exchange (“ITHMR”). It has a paid-up capital of $543.6 million, total equity of $1.3 billion and is a full investment bank with its direct business covering the Middle East and North Africa (MENA) region, as well as South Asia, Asia-Pacific and Europe. Besides holding significant investments in the banking, financial services and real estate sectors in different markets, the main direct activities of the Bank include underwriting (equity and other financings), private equity (structuring, participation and portfolio management), Islamic financing and advisory services covering project financing, investments, capital markets and mergers & acquisitions.
Ithmaar Bank’s flagship subsidiaries and associates include Shamil Bank of Bahrain, Solidarity (an Islamic insurance company, headquartered in Bahrain), Faisal Private Bank (Switzerland), Faysal Bank Limited (Pakistan), First Leasing Bank and Ithmaar Development Company.
For more information on Ithmaar Bank, please visit the Bank’s website at www.ithmaarbank.com
About the Ithmaar banking group:
The Ithmaar banking group consists of: Ithmaar Bank, Shamil Bank, Solidarity (an Islamic insurance company, headquartered in Bahrain), Faisal Private Bank (Switzerland), Faysal Bank Limited (Pakistan), First Leasing Bank and Ithmaar Development Company. The group’s services, including investment, private, retail, and commercial banking, private equity, mergers & acquisition advice, takaful, equipment leasing, and real estate development, form a 360 degrees value chain that embraces the entire spectrum of banking and financial services.