In compliance with instructions from the Central Bank of Kuwait

Kuwait, 01 November 2020: Gulf Bank held its Ordinary Annual General Meeting (“AGM”) No. 60 yesterday, Saturday, 31 October 2020 with the aim of electing independent board members, in compliance with instructions from the Central Bank of Kuwait, and with a quorum of 72.87%. During the assembly, both Ahmad Mohammad AlBahar and Ali Ibrahim Abdullah were appointed as independent members of Gulf Bank’s Board of Directors to complete the current tenor (2018-2020).

During the meeting, attendees also voted on three new non-independent members: Dr. Adnan Ahmad Shehab AlDeen, Barrak Abdulmohsen Ahmad AlAsfour, and Abdullateef Abdulaziz AlSharekh.

Gulf Bank’s Chairman, Jasem Mustafa Boodai, commented: “We would like to welcome the newest members joining Gulf Bank’s Board of Directors, and we wish them every success in their new positions. On this occasion, I would also like to extend a special thank you to the executive management and the teams who have been working tirelessly during the past months which, despite their challenges, also demonstrated to us our employees’ commitment and dedication to their work.”

After the end of the assembly, Gulf Bank’s Board of Directors also held a meeting in which Jasem Mustafa Boodai was re-elected as Chairman of Gulf Bank, and Ali Morad Yousuf Behbehani as Vice Chairman.

It is worth noting that Gulf Bank was founded in 1960 and has been listed on the Kuwait Stock Exchange (Boursa Kuwait) since 1984, with assets totaling KD 6 billion for the year ending in December 2019. Gulf Bank is one of the leading banks in Kuwait, providing a broad range of consumer banking, wholesale banking, treasury, and financial services through its large network of over 50 branches and more than 200 ATMs across Kuwait.