Tagged: Mohammed Bucheerei

Ithmaar and First Leasing Bank complete merger

Ithmaar and First Leasing Bank complete merger

Ithmaar Bank has formally concluded a merger with First Leasing Bank (FLB), which involved a swap of four Ithmaar Bank shares for each FLB share. The merger enhances Ithmaar’s capital base as well as its capital adequacy ratios. It also improves Ithmaa…

Ithmaar to convert Swiss unit into family office

Ithmaar to convert Swiss unit into family office

According to a recent announcement by Ithmaar Bank, it will convert the banking licence of its wholly-owned subsidiary in Switzerland, Faisal Private Bank, to a family office. The decision to make such a conversion includes focusing on the further deve…