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Invitation and Agenda for QIB Ordinary AGM

Invitation  and Agenda for QIB Ordinary AGM

Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, has held the Assembly General Meeting of the shareholders, on Tuesday 21 February 2016, 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.

The Board of Directors of Qatar Islamic bank is pleased to invite you to attend the meeting of the Assembly General Meeting (AGM) which will be held on Tuesday 21/02/2017 at 4:00 p.m. at AL-Mirqab Hall at the Four Seasons Hotel to discuss the below mentioned agenda. In case of incomplete required quorum, another  meeting will be held on Tuesday 28/02/2017 at 4:00 p.m. at the same place.

Agenda of the Assembly General Meeting (AGM):

  • Board of Director Report on the results of the Bank and financial statement for year ended 31/12/2016 and discussion of QIB plan for the year 2017.
  • Sharia Supervisory Board report 2016.
  • External auditors’ report on the financial statements for the year ended 31/12/2016
  • Discussion and approval of the Bank’s balance sheet and profit and loss for the year ended 31/12/2016.
  • Approval of the board of directors’ proposal to distribute 47.5% cash dividends of the nominal value per share, i.e. QAR 4.75 per share.
  • Absolve the Board members from liability for the year 2016 and approve the remuneration prescribed to them.
  • QIB Governance Report for the year 2016.
  • Discussion of the proposal to increase the limit of the perpetual Sukuk “Additional Tier 1 Capital (AT1) Sukuk“ from QAR 5 Billion to QAR 7.5 Billion, (subject to Qatar Central Bank approval).
  • Nomination of the external auditors of the bank for the year 2017 and determination of the fees to be paid to them.
  • Election of the Board of Directors members for the new term ,three years, 2017-2019.

Before three days from Assembly General Meeting (AGM) the shareholders may obtain from the Office of Board of Directors Secretary at the 5th Floor of QIB Headquarters a list showing the Board of Directors remuneration, fees, financing, Letters of Credit, Letters of Guarantees and benefits in kind obtained by the Chairman and members of the Board of Directors. And also the amounts spent as advertisement and donations.

Registration of attendance of the AGM will start at 03:00 P.m. on Tuesday, 21/2/2017 at AL-Mirqab Hall at the Four Seasons Hotel. Kindly adhere to attendance on time. In case of inability to attend physically/ in person you may nominate another shareholder of QIB with a power of attorney, form is attached herewith, to register and attend on your behalf.

We would like to draw the attention of the shareholders to the following:

  • Any shareholder may attend physically or through a proxy on behalf of another shareholders with an agency consent agreement attached to the invitation sent to each shareholder. For the agent in a proxy to be valid, the agent should be a shareholder who should not be holding more than 5% of QIB shares.
  • The invitations to shareholders will be sent by courier, this advertisement represents an invitation to those who have not received the invitation by courier.
  • The committees of the Assembly General Meeting (AGM) will start the registration procedures of the attendance and quorum at 3:00 p.m. on Tuesday 21/02/2017.

Jassim bin Hamad bin Jassim bin Jaber Al Thani
Chairman of the Board of Directors