Directorate Change 12 March 2007
Islamic Bank of Britain Plc
12 March 2007
ISLAMIC BANK OF BRITAIN PLC
The Board of Directors of the Islamic Bank of Britain plc ("IBB") announces that Mr. Abdul Rahman Abdul Malik has submitted his resignation after 3 years as Chairman. He will remain on the Board as a non executive director until 31 March 2007. The Board has accepted his resignation with regret and would like to thank him for his guidance and leadership in establishing IBB as the first full service Sharia'a compliant bank in Europe.
The Board is pleased to announce that Mr Mohsen Tawfik Moustafa has been appointed as Chairman of IBB with immediate effect. Mr Moustafa, who joined the Board in September 2005 as a non executive director, is a banker with international standing and broad Islamic banking experience and is ideally suited to lead IBB for the next phase of its development.
For further information please contact:
• Gerry Beaney, Grant Thornton UK LLP (Nominated Adviser)
(tel: 020 7383 5100)
• Howard Drummon, Keith Bayley Rogers (Broker)
(tel: 020 7253 7502)
• Media contact: McCann Erickson PR - Alison Love/Caroline Binch
(tel: 0121 713 3500)