Doha Bank General Assembly Endorses Agenda Items and Approves 10% Cash Dividend

March 07, 2019

Doha Bank announced the results of its AGM and EGM that were held at the bank’s tower in Al Dafna area on Wednesday 6/3/2019, and approved the following resolutions:

Ordinary General Assembly:

1.      Unanimously endorsed the Board of Directors’ 2018 Corporate Governance Report.

 

2.      Unanimously endorsed the balance sheet and the profit/loss accounts for the financial year ended on 31 December 2018, and the Board of Directors’ recommendation to distribute a QR1 cash dividend per share.

 

3.      Unanimously agreed to relieve members of the board from any liability for the fiscal year 2018 and determine their remuneration as per QCB instructions and the Bank’s internal remuneration policies.

 

4.      Unanimously agreed to appoint “KPMG” to audit the Bank’s accounts for the year ending 31/12/2019.  The fees include auditing the Islamic activities, foreign branches accounts, Doha Bank Assurance Company accounts, Investment fund’s accounts and periodical reports as per QCB requirements during 2019 and Governance code for companies and legal entities listed in the main market issued by QFMA.

Extraordinary General Assembly:

1.      Unanimously approved the proposed amendments to Articles (6), (23), (31) and (57) of the company’s Articles of Association.

 

2.      Unanimously agreed to authorize the Chairman and/or his Deputy and/or the Managing Director to individually sign the amended Articles of Association and complete the procedures for obtaining the necessary approvals from the concerned parties, and ratifying the authorization.

 

To view the press release click here