Manama, Bahrain: Arab Banking Corporation (B.S.C.) (“ABC”) announced today that its Board of Directors resolved to appoint Dr. Khaled Kawan, ABC’s Deputy Chief Executive, as “Acting President and Chief Executive” with immediate effect while ABC deploys its assessments and plans towards permanent succession.
Towards facilitating the transition, Mr. Hassan Ali Juma will continue with ABC in an advisory capacity through to 31 July 2013.
Mr. Saddek El Kaber, the Chairman of the ABC Board of Directors declared that “As a long serving officer of ABC and ABC’s Deputy Chief Executive, the Board is confident that Dr. Kawan is qualified and well positioned to steer ABC through this period of transition. Dr. Kawan takes on this position with the fullest confidence of the Board.”