Jordan

 

Arab Bank Chairman Quits After Long Running Power Struggle With CEO

After a long running dispute over bank governance with the CEO, the Chairman of Jordan’s Arab Bank, ʹAbd al-Hamid Shoman, was forced to resign on 16 August. In a letter of resignation Mr Shoman accused the CEO, Nemeh Elyas Sabbagh, and the bank’s board of directors of “refusing to assume their legal responsibilities to protect the interests of the bank.” He...