General Assembly
QIB Ordinary and Extraordinary Assembly General Meeting shareholders was held on Wednesday 21 February 2018. Meeting results summarized as follows:
Results of QIB Ordinary AGM:
1 - The Assembly approved the financial statements and results for the financial year 2018.
2 - The Assembly approved the distribution of dividends to shareholders at the rate of 50% of the nominal value of share capital (i.e.QR 5 per share).
3 - Absolve the Board members from liability for the year ended 31/12/2017 and approval of the remuneration prescribed to them.
4 - Approved QIB Governance Report for the year 2017.
5 - The AGM approved the increase and renewal of the Bank's Sukuk program as follows:
- Renewal of the QAR 7.5 billion limit for the Additional Tier 1 (AT1) Perpetual Sukuk of which QAR 4 billion is utilized
- Increase the limit of QIB Sukuk program in USD to a maximum of USD 4 billion instead of USD 3 billion.
6 - The Assembly nominated KPMG as external auditors of the Bank for the year 2018 and determination of the fees to be paid to them.
Results of the Extraordinary EGM
- QIB Extraordinary EGM approved the amend of the Articles of Association of the Bank to adjust its position in accordance with the Commercial Companies Law No. 11 of 2015 and the principles of governance.
- The Extraordinary EGM approved the increase in percentage ownership of the Non-Qataris in the Bank’s capital to 49% instead of 25%.
Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, has held the Assembly General Meeting of the shareholders, on Tuesday 21 February 2017, at Four Seasons Hotel. Meeting results summarized as follows:
1- The Assembly approved the financial statements and results for the financial year 2016.
2- The Assembly approved the distribution of dividends to shareholders at the rate of 47.5% of the nominal value of share capital (i.e. QR 4.75 per share).
3- The Assembly approved the Board of Director’s recommendations to increase the limit of the perpetual Sukuk “Additional Tier 1 Capital (AT1) Sukuk“ from QAR 5 Billion to QAR 7.5 Billion.
4- The Assembly appointed KPMG as external auditors of QIB financial statements for the year 2017.
5- The Assembly has selected board members for the period 2017-2019, after the withdrawal of 2 board nominees. The board members for the new period are:
- Sheikh Jassim Bin Hamad Bin Jassim Bin Jaber Al Thani (representing Al Mirqab Capital )
- Mr. Abdul Rahman Abdulla Abdul Ghani Al Abdul Ghani
- Mr. Abdullatif Abdulla Al Mahmoud (representing Dar Al Sharq Group)
- Sheikh Abdulla Bin Khaled Bin Thani Al Thani (representing Al Naera Building Materials Company)
- Mr. Abdulla Saeed Mohamad Al Eida (representing Al Zubara Real Estate Investment)
- Sheikh Ali bin Ghanem bin Ali Al Thani (representing Ali bin Ghanem bin Ali Al Thani Group)
- Mr. Mohammed bin Issa Al Mohannadi
- Mr. Mansour Mohammed Al Musleh
- Mr. Nasser Rashid Al Kaabi (representing Al Sraiya Group)
The first meeting of the newly selected board members elected Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani as Chairman and Mr. Abullatif bin Abdulla Al Mahmoud as the Vice Chairman of the Bank.
