18-03-2025
Qatar International Islamic Bank announces the results of the AGM and EGM. The meeting was held on 18/03/2025 and the following resolution were approved
Results of the Ordinary General Assembly for the Fiscal Year 2024
1. The AGM approved the Board of Directors' report on the bank's activities and financial position for the fiscal year ending December 31, 2024, along with the bank’s future plans.
2. The AGM approved the Shariah Supervisory Board for the fiscal year 2024.
3. The AGM approved the external auditor’s report for the fiscal year 2024.
4. The AGM approved the Corporate Governance Report for the fiscal year 2024.
5. The AGM approved the bank’s financial statements, including the balance sheet and profit and loss account for the fiscal year ending December 31, 2024.
6. The AGM approved the Board of Directors’ proposal for the annual dividend distribution at a rate of 50% of the share capital for the full fiscal year 2024, amounting to 50 dirhams per share, from which the interim dividends already paid will be deducted, leaving a final dividend of 27 dirhams per share to be distributed to shareholders.
7. The AGM absolved the Board of Directors from liability for the fiscal year ending December 31, 2024.
8. The AGM approved the remuneration of the Board of Directors for the fiscal year 2024, in accordance with the presented policy on rewards, allowances, and incentives.
9. The AGM approved the renewal of the existing $2 billion Sukuk Issuance Programme, previously approved by the Ordinary General Assembly on March 31, 2024, and authorising the Board of Directors to determine the size, terms, and currency of each issuance based on the bank’s needs and after obtaining necessary approvals, provided that the total issued Sukuk does not exceed the bank’s capital base and reserves.
10. The AGM approved the Board of Directors’ recommendation to issue new Sukuk in Qatari Riyals, subject to regulatory approval, with a ceiling not exceeding 1 billion Qatari Riyals, and authorising the Board to determine the size and terms of each issuance.
11. The AGM approved the nomination of the external auditors KPMG for the fiscal year 2025 and approved their fees.
Results of the Extraordinary General Assembly
1. The EGM approved the Board of Directors’ recommendation to amend Article (2) of the Articles of Association to include provisions allowing the bank to offer insurance services on behalf of insurance companies and to amend the commercial registration to include insurance product marketing activities.
2. The EGM approved to authorising the Chairman of the Board to make any necessary amendments to the Articles of Association in accordance with the Extraordinary General Assembly’s resolution and to sign the amended Articles before the relevant authorities.
.