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Al Salam Bank Bahrain under temporary administration

July 13, 2014

The Commission Bancaire of the Bank of Algeria decided on July 3, 2014 to put Al Salam Bank Algeria under temporary administration, due to differences between certain shareholders of Al Salam Bank Algeria, who were also the founders of the Bank.

These differences have led to a lack of ability to manage Al Salam bank Algeria in normal conditions, which required the intervention of the Regulators to preserve the rights of the shareholders of Al Salam Bank Algeria.

In order to resolve the issue, shareholders of Al Salam Bank in Algeria are in the process of agreeing on the protocols for holding a general assembly to meet and elect a new board of directors.

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Source: CPI Financial

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