Head of Real Estate Investment for Al Salam

Published March 18th, 2007 - 11:40 GMT

Bahrain based Al Salam Bank announced that Paul Gill has joined the bank’s senior management team as an Executive Director (SVP); Head of Real Estate Investment.

A Chartered Professional Engineer and property development specialist, Paul holds a 1st class honours degree in Building Technology from the University of Manchester UK. He enjoys more than 26 years multinational career across diverse real estate industry sectors in different countries and continents including Australia, Asia, Middle East and Europe. Prior to joining Al Salam Bank, Paul held various senior executive positions with Australia’s Lend Lease, Asia Pacific’s Bovis and Dubai’s Majid Al Futtaim Investments.

Mr Yousif Taqi, Chief Executive Officer, said “Paul is an asset to Al Salam Bank due to his extensive global and regional property development experience. Paul’s expertise will contribute to the enhancement of the management team which the bank always seeks for”

Al Salam Bank Bahrain Incorporated on 19 January 2006 in the Kingdom of Bahrain with a paid-up capital of US$ 318 million (BD 120 million), Al Salam Bank commenced commercial operations on 17 April 2006. The Bank operates under Islamic principles in accordance with regulatory requirements for Islamic banks set by the Central Bank of Bahrain. The Bank’s vision is to become a leading force in the Islamic financial services industry by providing a differentiated Sharia-compliant offering to focused segments in selected markets.

The Bank’s Initial Public Offering (IPO) of 35 per cent of the paid-up capital was oversubscribed 63 times and raised over US$ 7 billion (BD 2.7 billion) making it the largest IPO in the Kingdom’s history. The Bank was subsequently listed on the Bahrain Stock Exchange on 27 April 2006.

The founding shareholders of Al Salam Bank hold 65 per cent of the paid-up capital. They include Emaar Properties, Amlak Finance, Dubai Investment Group, Dubai Holding and Global Investment House, together with other strategic shareholders from across the Middle East.

 

 


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