The Board of Directors of Qatar International Islamic Bank is pleased to invite all shareholders to attend QIIB Annual General Assembly and Extraordinary General assembly.
The meeting will be held on Sunday, 10/03/2019 at 5:00 pm at Ezdan Towers halls accessed through the third Entrance of the towers, in west bay. The alternative date (second meeting), in case of a lack of quorum shall be on Sunday, 24/03/2019 at 5:30 pm in the same place mentioned above, to discuss the agenda set out below:
The General Assembly agenda for the financial year 2018:
1) Board of Directors’ report of the bank activities, the financial results for the financial year ended on 31/12/2018, and the bank’s future plan.
2) Sharia Supervisory Board report for the year ended 31/12/2018.
3) External auditor’s report on the financial statements for the year ended 31/12/2018 and its approval.
4) Governance report for the year ended 31/12/2018 and its approval.
5) Discussion and approval of the Bank’s balance sheet and profit & loss for the year ended 31/12/2018.
6) Consider the recommendation of the Board of Directors to distribute cash dividends of 40 % of capital (QR 4 per share) and its approval.
7) Discharge the Board of Directors members from any liability for the year 2018 and approve their remuneration for 2018.
8) Consider the recommendation of the Board of Directors to extend the previous General Assembly resolution to complete the issuance of Tier 1 sukuk under the same terms and conditions. These sukuk are not convertible into shares, have a maximum amount of QR 3.0 billion to be issued within 3 years, and shall not exceed the Bank's capital and reserves. Then delegate the bank board of directors to decide the size of each sukuk issuance, its terms and conditions, and the issuance currency after obtaining the necessary approvals from the regulatory authorities.
9) Consider the recommendation of the Board of Directors during the previous General Assembly resolution to renew the Bank's Sukuk issuance program up to a maximum of US $ 2 billion, previously approved by the Ordinary General Assembly Meeting in 2018 based on a study of each issuance and of the different sizes based on the Bank's need. Instruments issued shall not exceed the Bank's capital and reserves.
10) Appointment of External Auditors for year 2019 and their fees.
The Extraordinary General Assembly Agenda 2018
(1) Consider the recommendation of the Board of Directors to amend Article of Association (76) to allow the ownership of foreign investors with a percentage that does not exceed 49% of the Bank's capital, instead of the previous 25%.
(2) Consider the recommendation of the Board of Directors to amend Article of Association
(no. 5), to subdivide the share value in accordance with the decision of the Qatar Financial Market Authority, to become QR 1 instead of QR 10.
Article (5) will be amended to read as follows:
The Company's share capital is QR 1,513,687,490 subdivided into 1,513,687,490 shares with a nominal value of QR 1 each.
(3) Authorize the Chairman to make amendments to the Articles of Association in line with the extraordinary General Assembly resolutions, and to sign the amended Articles of Association for official authorities.
Dr. Khalid bin Thani bin Abdullah al-Thani
Chairman and Managing Director