The Ordinary General Assembly of Qatar International Islamic Bank approves raising the ceiling of the bank’s sukuk issuance program to $2 billion (instead of $1 billion)

QIIB held its second Ordinary General Assembly meeting during the year 2023 (on the reserve date - the second due to lack of a quorum in the first meeting on 7-5-2023) at 5:30 pm today, Wednesday, 17/5/2023, in the main bank building on St. Grand Hamad:
The meeting approved the items on the agenda of the assembly meeting as follows:
First – Approval of the Board of Directors’ recommendation to raise the ceiling of the bank’s sukuk issuance program, which was previously approved by the Ordinary General Assembly on 3/14/2023, to become $2 billion (instead of $1 billion), provided that the issuance takes place in different sizes based on a study of the bank’s need and after the issuance of the necessary approvals. To issue these sukuk from the competent authorities, provided that the issued sukuk do not exceed the bank’s capital base and reserves.
Second - Two additional members of the Board of Directors were elected from among the shareholders to complete the current period, which ends on 13/3/2026, bringing the number of members of the Board of Directors to 11 members, and the new members are each of the following:
Al-Taybeen Company for Trade and Services, represented by Mr. / D. Ayed Debsan Ibrahim Al-Qahtani
Faseel Business and Real Estate Company
The approval of the Golden Ball Company is a reserve member

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