Doha: The Ordinary General Assembly Meeting of Masraf AI Rayan has approved the entire 12-point agenda of the meeting, including the Board’s recommendation to distribute a dividend of 22.5 percent and election of a new Board for the period 2020-2022.
The shareholders gave the nod to the report submitted by the Board of Directors on the activities of Masraf AI Rayan, its financial position for the fiscal year ended on 31st December 2019, and the future plans of the Bank for the year 2020.
The Ordinary General Assembly gave approval of the Board of Director’s recommendations concerning the appointment of the Shari’a Supervisory Board of Masraf Al Rayan for the coming 3 years 2020- 2022 and delegated the power to the Board of Directors to add a new Member / Members or to fill any vacancy in the Shari’ a Supervisory Board and to specify their remunerations and any other issues related to the Shari’a Supervisory Board during the period mentioned.
The Assembly discussed and approved absolving the Chairman and Members of the Board of Directors from all responsibilities for the fiscal year ended on 31st December 2019, specifiying their remuneration for the year ended on 31st December 2019. The General Assembly also approved the new guide of rules for the compensation and the remuneration of the Board of Directors.
The Ordinary General Assembly approved to appoint “Deloitte & Touche” to audit Masraf AI Rayan and its Subsidiaries (excluding AI Rayan-UK) for fiscal year ending on 31st December 2020.
The Assembly elected 7 members to be Board Members occupying 7 seats of the Board of Directors for the next 3 years term (from 2020 to 2022), which includes 4 seats for Non-Independent Members and 3 seats for Independent Members.
Source from: The Peninsula Qatar