Qatar Islamic Bank Assembly Approves Agenda, Distribution of 47.5% Cash Dividend

February 22, 2017

Qatar Islamic bank announced the resolutions of General Assembly on Tuesday 21February 2016 approved the following:-

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, subject to Qatar Central Bank approval.

4-         The Assembly nominated  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.