News

Alkhabeer Capital Announces a Change in the Membership of the Board of Directors of Alkhabeer Waqf Fund I

18 November 2021

– Announcement –

Alkhabeer Capital Announces a Change in the Membership of the Board of Directors of Alkhabeer Waqf Fund I

Alkhabeer Capital announces a change in the membership of the Board of Directors of Alkhabeer Waqf Fund I, due to the resignation of a member of the Board of Directors, Hamid Muhammad Al-Harasani (membership status: independent) commencing from 12 Rabi Al Akhar 1443 corresponding to 17 November 2021.

The formation of the Board of Directors, after the change, shall be:

1- Mr. Ammar Ahmed Shata – Chairman of the Board – (non-independent member).

2- Mr. Ahmed Saud Ghouth – (non-independent member).

3- Mr. Yasser Muhammad Baharith – (non-independent member).

4- Mr. Farouq Fouad Ghulam – (Independent member).

The Fund Manager will appoint an independent member as a substitute for the resigned independent member within 45 days from the date of 12 Rabi Al Akhar 1443 (according to the Umm Al-Qura calendar) corresponding to 17 November 2021, in compliance with the requirements of Paragraph B of Article 38 “Public Fund Board” of the Investment Funds Regulations related to the minimum number of independent members in the Fund’s Board of Directors. This development will be announced as soon as it occurs.

– Ends –