Ithmaar Holding, a Bahrain-based financial institution, has received approval from its shareholders for a significant capital restructuring plan. The decision, made during an Extraordinary General Meeting (EGM), will see the company cancel its accumulated losses against share capital and proceed with an additional capital increase through a rights issue.
A Strategic Milestone
The EGM was chaired by Prince Amr Al Faisal, Chairman of the Ithmaar Holding Board of Directors, with representatives from the Central Bank of Bahrain (CBB) and the Ministry of Industry and Commerce (MOIC) also in attendance. The move is seen as a pivotal step in the company’s strategic transformation.
“The approved initiative marks a key milestone in the transformation of the Group’s operations, in line with the strategic decisions taken by the shareholders,” said Prince Amr. “This initiative will contribute to strengthening the group’s position, enhancing its operational efficiencies and ensure sustainable long-term growth.”
Strengthening the Balance Sheet
The restructuring is designed to fundamentally improve the company’s financial standing. The plan will not only address historical losses but also inject fresh capital to bolster its equity base and support future growth initiatives.
“The new initiative that was proposed by the board and approved by the shareholders, will result in not only offsetting the accumulated losses but will also increase total equity by at least $50 million as committed by the major shareholder,” stated Ithmaar Holding Chief Executive Officer, Maysan Almaskati.
Almaskati added, “We are confident that the strategic plans of the Group that was undertaken during 2025 and announced in 2026 will mark a fundamental shift in Ithmaar Holding’s financial position by strengthen capital structure, adding value among shareholders and ensure achieving sustainable growth.”
About Ithmaar Holding
Ithmaar Holding B.S.C. is a Bahrain-based holding company that is licensed and regulated as an investment firm by the Central Bank of Bahrain. The company is listed on the Bahrain Bourse and Dubai Financial Market. It is the parent company of Ithmaar Bank, an Islamic retail bank.
Source: Zawya
