QIIB Annual General Assembly and Extraordinary General assembly decisions

news

1-      The Board of Directors presented to the bank shareholders its report over the bank's activities and the financial position for the year ended 31/12/2018 which includes the bank's strategy, the AGM approved.

2-      Sharia Supervisory Board presented their report by Sheikh Dr.Walid bin Hadi (Chairman of Shaira Supervisory Board) for the year 2018.

3-      External auditors' presented their report on the bank's financial statements for the year ended 31/12/2018.

4-      Approval of the bank Governance report for the year ended 31/12/2018.

5-      Approval of the bank financial statements for the year ended 31/12/2018.

6-      The General Assembly approved the Board of Director's recommendations to pay 40% of the bank capital as cash dividends, equivalent to QR 4.0 per share.

7-      The General Assembly agreed to discharge the Chairman and Members of Board of Directors from all responsibilities for the financial year ended on 31/12/2018 and approved the board remuneration.

8-      The General Assembly approved the extension of its approval to issue Additional Tier1 Sukuk nonconvertible into an ordinary shares up to QR 3.0 billion, and delegate the bank board of directors' to decide the size of each issuance, terms and conditions, issuance currency after getting all necessary approvals from supervisory authorities(QR 1.0 billion issued in August 2016).

9-      The General Assembly agreed extend of its approval to renewal the outstanding Sukuk programme up to USD 2.0 billion (which it's already approve in 2013 AGM) and delegate the bank board of directors' to decide the size of each issuance ,terms and conditions, issuance currency after getting all necessary approvals from supervisory authorities.(USD 500 million issued in February 2019)

10-   The AGM approved the appointment of PWC as External Auditors for year 2019.

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The EGM

Due to the lack of legal quorum required for today EGM (75%), the EGM has postponed to second meeting (the reserve) on Sunday 24th March 2019 at 5:30pm in the same place.