Qatar International Islamic Bank Holds Ordinary and Extraordinary General Assembly on 10/3/2019

February 21, 2019

Qatar International Islamic Bank (QIIB) Board of Directors has announced that shareholders will be invited to attend the Extraordinary General Meeting of shareholders, which will be held at 5:00pm on Sunday, 10/3/2019 at Ezdan Towers, Gate 3, West Bay. In case of incomplete quorum, the second meeting (alternative) will be held on Sunday 24/3/2019, at 5:30pm at the same venue to discuss the agenda set out below:

First: Agenda of the Ordinary General Assembly

1-      Present the report of the Board of Directors on the activity of the Bank and its financial position for the financial year ended 31/12/2018 and its approval and the future plans of the Bank.

2-      Hear the report of the supervisory board of the bank.

3-      Present and approve the auditor's report for fiscal year 2018.

4-      Discuss and adopt the Governance Report for the fiscal year 2018.

5-      Discuss and approve the Bank's budget and profit and loss account for the fiscal year ended 31/12/2018.

6-      Consider the proposals of the Board of Directors on the distribution of dividends by 40% on the capital by (4) riyals per share and approval.

7-      Consider the discharge of the members of the Board of Directors for the financial year ended 31/12/2018 and the approval of their remuneration.

8-      Review the recommendation of the Board of Directors to renew the previous General Assembly resolution to complete the issuance of capital instruments under the same terms and conditions. These are additional capital instruments within the first tranche of capital that are not convertible into shares and a maximum of (3.000.000.000). The issued Sukuk shall not exceed the Bank's capital base and reserves, and authorize the Board of Directors to determine the size of each issue, its terms and conditions, and the issue currency after obtaining the necessary approvals from the regulatory authorities.

9-      Consider the recommendation of the Board of Directors to renew the previous General Assembly resolution to renew the Bank's Sukuk issuance program up to a maximum of US $2 billion previously approved by the Ordinary General Assembly Meeting in 2018 on the basis of a study of each issue and of different sizes based on the Bank's need. Issuing instruments shall not exceed the Bank's capital base and reserves.

10-  Consider the appointment of auditors for the financial year 2019 and determine their remuneration.

 Second: Agenda of the Extraordinary General Assembly

1.      Consider the recommendation of the Board of Directors to amend Article (76) of the Articles of Association to allow the ownership of foreign investors to not exceed 49% of the capital of the Bank as a maximum instead of 25% previously.

2.      Consider the recommendation of the Board of Directors to amend Article (5) of the Articles of Association to split the value of the share in accordance with the decision of Qatar Financial Markets Authority, so that the share will have the value of one (1) Qatari Riyal, instead of 10.

Article (5) of the Statute shall be amended to read as follows:

The Company's share capital is QR 1,513,687,490 (one billion five hundred and thirteen million six hundred and seventy seven thousand four hundred and ninety-nine Qatari Riyals) distributed on the number of 1,513,687,490 shares of par value of one share.

3.      Delegate the President of the Board of Directors to make any amendments to the statute in accordance with the resolutions of the General Assembly and sign the amended statute before the official bodies.

To view the text of the invitation click here