24-03-2022
Qatar First Bank QFC announced the results of the Ordinary General Assembly meeting held on 23/03/2022, where the following was approved:
1. Approving the report of the Chairman of the Board of Directors on the bank’s activity and financial position for the fiscal year ending on December 31, 2021, and approving the bank’s work plan for the fiscal year 2022.
2. Approving the report of the Shariah Supervisory Board for the financial year ending on December 31, 2021.
3. Approving the external auditor’s report on the financial statements for the fiscal year ending on December 31, 2021.
4. Approving the audited consolidated financial statements, which included the bank’s balance sheet and profit and loss account for the financial year ending on December 31, 2021.
5. Approving the Bank's annual report for the fiscal year ending on December 31, 2021.
6. Approving the proposal of the Board of Directors not to distribute dividends and not to take an optional reserve for the fiscal year ending on December 31, 2021.
7. Agreeing to discharge the members of the Board of Directors of any liability in relation to their duties and responsibilities for the fiscal year ending on December 31, 2021 and approved the proposal of the Board of Directors not to pay remuneration to the members of the Board of Directors for the fiscal year ending on December 31, 2021.
8. Approved the Bank’s Corporate Governance Report for the fiscal year ending on December 31, 2021 and approved the external auditor’s report regarding the effectiveness of the design, implementation and operation of the Internal Controls on Financial Reporting (ICOFR) in accordance with the rules and regulations of the Qatar Financial Markets Authority.
9. Approving the major deeals transactions carried out by the Bank during the financial year ending on December 31, 2021.
10. Approving the renewal of the appointment of Ernst & Young as an external auditor for the bank for the fiscal year 2022, and their fees were determined based on the recommendation of the Board of Directors.
11. Electing by acclamation five members of the Board of Directors (independent and non-independent) whose names are as follows in accordance with the rules and regulations in force for a period of three years, and ratifying the appointment of two members of the Board of Directors by the strategic shareholders of the Bank in accordance with Article 34.2 of the Bank’s Articles of Association for a period of three years:
The independent members of the board of directors shall be:
Mr. Ibrahim Mohamed Ibrahim Al-Jaidah,
Mr. Muhammad Yusuf Al-Manea,
Mr. Mohammed Nasser Al-Hajri.
The non-independent members of the board of directors shall be:
Shift Company LLC. Represented by Mr. Issa Mohammed Al Mohannadi,
Al-Wajbah Company for Business Development, represented by Mr. Saad Nasser Al-Kaabi.
The members of the Board of Directors appointed by the strategic shareholders of the Bank (Al Zubara Real Estate Investment Company LLC and Brooq Trading Company LLC).
His Excellency Sheikh Faisal bin Thani Al Thani, who was appointed by Al Zubarah Real Estate Investment Company LLC.
Mr. Jassim Mohammed Al Kaabi, who was appointed by Brooq Trading Company LLC.