QFB's EGM Approves 65% Capital Reduction
September 17, 2019
Qatar First Bank (QFB) announced the results of its Extraordinary
General Meeting (EGM) held at 4:00 pm on Monday, September 16,
2019 at the Bank Hall of QFB Headquarters, Doha, Qatar.
The results of the EGM were as follows:
1.
As
per the special resolution, approve the QFB’s capital reduction
by 65% to QAR 700 million, subject to regulatory approval.
2.
As
per the special resolution, approve the amendment of the QFB’s
Articles of Association by adding and amending certain articles
in respect of capital reduction and regulatory requirements.
3.
Approve the exception of Barzan Holding Company from the
approved cap in respect of the Bank's transactions with the
parties related to the Board of Directors for 2019 (either
directly or indirectly)
To view the press release,
click here
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