Gulf International Bank has completed its transformation into a local bank in Saudi Arabia

21-04-2019 Media in\ Riyadh
Gulf International Bank (GIB) held a meeting of the Constituent Assembly in Riyadh under the chairmanship of Mr. Abdullah bin Mohammed Al Zamil, where the first board of directors of ten members was approved.
The bank will be headquartered in the Eastern Province with a capital of SR 7.5 billion and is equally owned by the Public Investment Fund of Saudi Arabia and Gulf International Bank.
The announcement follows the approval of the Saudi Council of Ministers in May 2017 to transfer the bank’s branches to a local Saudi commercial bank called Gulf International Bank – Saudi Arabia.
And at the first meeting of the Board of Directors of Gulf International Bank – Saudi Arabia held on Sunday, 24 Rajab 1440 H corresponding to 31 March 2019 for its term ending after five years; after obtaining no objection of the Saudi Arabian Monetary Agency decided to appoint the Board of Directors Abdullah bin Mohammed Al Zamil as Chairman of the Board , And Abdul Aziz bin Abdul Rahman Al-Hallaisi as CEO.