Qatar Islamic Insurance AGM Approves Distributing Cash Dividend of QR 3.5 Per Share

March 30, 2017

Qatar Islamic Insurance announced the resolutions of ordinary General Assembly Meetings held on Wednesday 29.3.2017, The following are the resolutions that the AGM approved:-

1.      Approval of the report of the Board of Directors and there plans for the Year Ended 31.12.2016.

2.      Approval of the report of the Shari'a Supervisory Board for the Year Ended 31.12.2016.

3.      Approval of the report of the Independent Auditors for the Year Ended 31.12.2016.

4.      Approval of the Policyholders and Shareholders' Financial Statements for the Year Ended 31.12.2016. And approved of the recommendation made by the Board of Directors to distribute cash dividends equaling 35 % of the shares nominal value i.e. QR 3,5 per share for the Year Ended 31.12.2016

5.      Absolving the Board of Directors of all responsibility and granting there remunerations for the Financial Year 2016.

6.      Approved of the report of the Governance for 2016.

7.      Approved election nine winners for the Board of Directors for the next three years starting from 2017 as un-independent board members, and they are as following:-

A.    Alwifaq for Engineering & Construction Represented by H.E. Sheikh Abdulla Bin Thani AL-Thani        

B.     Mr. A/Rahman A/Jalil A/Ghani AL-Abdulghani

C.     Thubair Group for Commerce Represented by Ali A/Rahman AL-Hashemi     

D.    Tareeq Al Haq for Commerce Company Represented by H.e. Sheikh Mohd. Bin Thani AL-Thani     

E.     Semsema for Real Estate Investment Co. Represented by Mr. Rashed Nasser Rashed Serayea AL-Kaabi        

F.      Dar Al Thuraya for Commerce Co. Represented by Dr. Yousef Ahmad Hussain AL-Nema'    

G.    Medical Group Represented by Mr. Khaled Mohd. A.AlEmadi

H.    Islamic International Investments Represented by Mr. Jamal Abdulla Ahmad Aljamal

I.        Wethaq for Buisness Development Represented by Engr. Hisham Mostafa Mohd. AL-Sohtari

8.      Approved appointing Fatwa & Sharia Control Committee for the next three years starting from 2017, and they are as following :-

A.    Dr. Ali Mohei El Din Al Quradaghi -Head of Committee

B.     Dr. Yahya Hamad Al Nuaimi -Member of Committee

C.     Mr. Shafee El Haq Mohd Noor Alkabeer -Member of Committee

9.      Approved appointing K.P.M.G. as the Company's new Independent Auditors for the Financial Year 2017.The new Board of Directors held its first meeting immediately after the AGM, H.E.Sheikh Abdullah Bin Thani Bin Abdullah AL-Thani was  elected  as  Chairman of the Board of Directors and Mr. Abdul Rahman Abdul Jalil Abdul Ghani AL Abdulghani selected as Deputy Chairman of the Board.