The shareholders of Ithmaar Holding has approved plans to voluntarily delisting from Boursa Kuwait while maintaining its listing on Bahrain Bourse and Dubai Financial Market.
The announcement by HH Prince Amr Al Faisal, the Chairman of Ithmaar Holding, follows the Board of Directors’ review and approval of the plan.
The meeting was attended by Ithmaar Holding shareholders and members of the company’s board of directors and its Sharia supervisory board, as well as representatives from the CBB, the Ministry of Industry, Commerce and Tourism, the Bahrain Bourse, and statutory auditors PricewaterhouseCoopers.
The holding company licenced and regulated as a Category 1 investment firm by the Central Bank of Bahrain said that the delisting will have no effect on Shari’ah compliant Ithmaar Bank, its customers or investors.
The company reported a net profit of $8.62 million in Q1 2019, a 79 per cent increase compared to $4.81 million the same period in 2018. The plans are subject to the approval of relevant authorities in Kuwait and Bahrain.
Source Islamic Business&Finance