Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, on Sunday appointed Marwa Khalid Al Saad as the Chairman of the board of directors of Mazad, a local portfolio company of Mumtalakat.

 

Mazad was founded in 2017 with the purpose of supervising and overseeing auctions within Bahrain, said a statement. 

 

Mumtalakat also named other members of the Board of Directors of Mazad. They include: Tameem Salman Almosawi, Husain Ahmad Marzooq, Ahmed Hisham Al Rawi, Hesham Ahmed Al Saati, Noor Yousef Sharafi,  and Zeyad Adel Darwish.

 

Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, expressed his appreciation to the previous members of the board for their exceptional contributions and efforts. Additionally, he extended a warm welcome to the newly appointed board of directors and underscored their profound expertise and knowledge that will prove indispensable in steering Mazad towards the realisation of its expansion goals and the implementation of its strategic plans.

 

Guided by its commitment to transparency, fairness, competitiveness, and sustainability, Mazad consistently introduces new and innovative asset sale and auction mechanisms to enhance its growth and sustainable returns, a statement said. - TradeArabia News Service