Ithmaar Bank – GC Powerlist
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Middle East Teams 2016

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Ithmaar Bank

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Middle East Teams 2016

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Ithmaar Bank

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Ithmaar Bank is an Islamic retail bank, licensed under the Central Bank of Bahrain, which provides retail, commercial, treasury and financial institutions and other banking services in a Sharia-compliant manner. The legal team has been working on the new legal framework based on plans proposed by the bank’s board of directors after a comprehensive reorganisation. The legal division is commended for its relations with regulatory boards in the region to gain approval for a new holding company to be listed on the Bahrain Bourse and Kuwait Stock Exchange. Over recent years, and based on the new ventures undertaken, the barriers between legal and business have been overcome, resulting in legal internally growing competency centers for specific specialisms. The team, led by Dana Raees, has impressed by meeting short deadlines for reviewing agreements and functioning in international laws. Ismaeel Elnasri, recently appointed senior manager of legal affairs in the team, comments: ‘each member of the legal team has been a keen problem solver, everyone is eager to find creative solutions to business and legal problems and add value to the bank as well’.

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