06-04-2021
Qatar First Bank QFC announced the results of the Ordinary and Extraordinary General Assembly meeting held on 05/04/2021, where the following was approved:
Summary of resolutions of the Ordinary and Extraordinary General Assembly meetings of Qatar First Bank LLC. (General)
the ordinary and extraordinary general assembly meetings of Qatar First Bank LLC were held On Monday, April 5, 2021 (Public) (referred to as "the bank") and it is a limited liability company registered in accordance with the provisions of the laws of the Qatar Financial Center Authority and holds license number (00091). The two meetings were held at 4:30 pm online through Zoom at the bank's headquarters in Doha, Qatar.
Results of the Extraordinary General Assembly meeting:
1. Whereas the legal quorum for the extraordinary general assembly meeting was not complete, it was decided to postpone the meeting to a second session that will be held on Monday, April 12, 2021 at 3:30 pm through the zoom at the bank's headquarters in Doha, Qatar.
Summary of Ordinary General Assembly Resolutions:
1. The General Assembly approved the report of the Chairman of the Board of Directors on the bank’s activities and its financial position for the fiscal year ending on December 31, 2020, and the General Assembly approved the Bank’s operational plan for the year 2021.
2. The General Assembly approved the external auditor's report on the financial statements for the fiscal year ending on December 31, 2020.
3. The General Assembly approved the consolidated audited financial statements, which included the bank’s general budget and profit and loss account for the fiscal year ending on December 31, 2020.
4. The General Assembly approved the bank’s annual report for the fiscal year ending on December 31, 2020.
5. The General Assembly approved the proposal of the Board of Directors not to distribute profits and not to take a voluntary reserve for the fiscal year ending on December 31, 2020.
6. The General Assembly agreed to discharge the members of the Board of Directors from liability for the fiscal year ending on December 31, 2020, and approved the proposal of the Board of Directors not to pay remuneration to Board members for the fiscal year ending on December 31, 2020.
7. The General Assembly approved the bank’s annual corporate governance report for the fiscal year ending on December 31, 2020 and approved the external auditor’s report regarding the effectiveness of designing, implementing and operating internal controls over financial reports (ICOFR) in accordance with the rules and regulations of the Qatar Financial Markets Authority.
8. The General Assembly approved the major transactions and major deals undertaken by the bank during the fiscal year ending on December 31, 2020.
9. The General Assembly approved the renewal of the appointment of Ernst & Young as the bank’s external auditor for the fiscal year 2021, and their fees were determined based on the recommendation of the Board of Directors.