QIIB AGM for the year ended 31/12/2017

28 Mar 2018
news
  • The Board of Directors presented to the bank shareholders its report over the bank's activities and its financial position for the year ended 31/12/2017 and the bank's future plans ,the AGM approved
  • Sharia Supervisory Board presented their report for the year 2017.
  • External auditors' presented their report on the bank's financial statements for the year ended 31/12/2017 and approved.
  • Approval of the bank Governance report for the year ended 31/12/2017.
  • Approval of the bank financial statements and statements of income for the year ended 31/12/2017.
  • Approval of the Board of Directors’ recommendation to distribute 40% of the bank capital as cash dividends (QR 4.0 per share);
  • The General Assembly agreed to discharge the Chairman and Members of Board of Directors from all responsibilities for the financial year ended on 31/12/2017, moreover the AGM approved the board of directors and the Sharia Supervisory Board remuneration.
  • Approval of the  board of directors recommendation to extend last year General Assembly approval to issue Additional Tier1 Sukuk nonconvertible into an ordinary shares up to QR 3.0 billion (QR 1.0 billion issued during 2016), 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
  • Approval of  the board of directors recommendation to extend last year General Assembly approval to establish up to US$ 2.0 billion Sukuk programme (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 (Issued Sukuk should not exceed the bank’s capital and reserves )
  • Appointment of PWC as External Auditors for year 2018 and approval their audit fees.