The Qatar Central Bank did not approve the distribution of interim profits to QLM Life and Insurance Company

15-06-2021


Referring to the approval of the company’s Ordinary General Assembly to distribute to quarterly dividends shareholders from the interim profits of the year (2021) and authorizing the Board of Directors to determine the appropriate amount for distribution and to take the necessary measures for this in accordance with the controls and approval of the Qatar Central Bank and other relevant authorities, and according to the Board’s decision at its meeting, which was held on Monday evening, 04/26/2021, distributing (4%) four percent of the nominal value of the share as an advance from the interim profits for the current year 2021, after auditing and reviewing the company’s quarterly budget as on 3/31/2021 and obtaining approval from all competent authorities.
The Qatar Central Bank has not approved the distribution of these profits on the grounds that the company's quarterly financial statements are not audited.


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