Kuwait-based Al-Manar Financing and Leasing's founding assembly elected its board of directors Monday, December 1, 2003, after a legal quorum was present representing 282,002,750 shares, stated a press release.
The assembly approved in its session, all items listed in its agenda, and then moved to elect Al-Manar's first board of directors. Bader Al-Sumait, Adil Al-Sabeih, Khalid Al-Fouzan, Salah Al-Wazzan and Mohammad Al-Omar will be the board’s first members.
Once the founding assembly concluded, the newly elected board members called and attended their first board meeting and elected Bader Al-Sumait as AL Manar's first Chairman, Salah Al-Wazzan as Deputy Chairman and Mohammad Al-Omar as CEO.
Established in December 2003, Al-Manar Financing and Leasing is a newly established company with a capital of 30 million Kuwaiti dinars ($101 million). The company plans to offer a range of products and services ranging from personal and automobile finance to corporate finance and investments. — (menareport.com)
© 2003 Mena Report (www.menareport.com )