The Bahrain Chamber of Dispute Resolution (BCDR) has issued a verdict in favour of Bank Alkhair against Falah Nasser Hamad Al Falah, a former employee of the bank, and its former chief executive Majid Al Refai, said a report.
Founded in 2004 and headquartered in Bahrain, Bank Alkhair is an Islamic wholesale bank, with an international presence in Saudi Arabia, Malaysia and Turkey.
The BCDR ordered Al Falah and Al Refai to jointly and severally pay the bank about $1.7 million for misappropriation of bank funds and unauthorised activity during Al Refai's tenure as chief executive, said a report in the Gulf Daily News, our sister publication.
No comments:
Post a Comment