Board Composition and Appointment of Directors

Clauses 93 to 114 of the Bank's Articles of Association provide for the manner of appointment and retirement of Directors. Directors hold office from the close of the Annual General Meeting at which they are appointed until the end of the consecutive one, at which meeting they become eligible for re-election. The Articles of Association provide that the Chairman and Vice-Chairman are to be appointed by the Directors from amongst their number and shall hold office for a period of one year, unless otherwise decided by a simple majority of the Board. The procedure for election of Directors is governed by the Articles. Any member may nominate an individual in the manner prescribed by the Articles, provided that such nomination is seconded by a member or members who in the aggregate hold at least 20,000 shares between them.

In view that the appointment and election of Directors is regulated by the aforementioned provisions, the Board considers that there is no need for a Nominations Committee. The participation of Directors on Board Committees, as provided for by the Articles, is decided upon by the Board. All such committees include at least one Director.

The current composition of the Board of Directors, as approved at the latest Annual General Meeting, dated 2 May 2013 is as follows: 

John C. Grech (Chairman)
Masaud M. J. Hayat (Vice Chairman)
Fouad M. T. Alghanim
Majed Essa Al-Ajeel
Hamad M. B. M. Al-Sayer
Eduardo Eguren Linsen
Adrian Alejandro Gostuski
Rogers LeBaron
Mohammed I. H. Marafie
Fakih Ahmed Mohamed
Rabih Soukarieh