The EGM/AGM was attended by the shareholders of the bank, the chairman and members of the board of directors, Sharia’a Supervisory Board for ‘Maisarah’ Islamic Banking, the legal advisor of the bank, the representatives of the statutory auditors of the bank, EY and the CMA delegate.
The following resolutions were passed at the EGM:
1. Approval of the increase of authorised capital from RO220mn to RO500mn and amendment of Articles of Association.
2. Approval of the update of the setup of the Euro Medium Term Note (EMTN) programme.
The AGM approved the corporate governance report, the report of the board of directors and the financial statements for the financial year ended December 31, 2016.
In addition, the report of Sharia’a Supervisory Board for ‘Maisarah’ Islamic Banking Services for the same financial year was also approved.
The meeting also approved the proposed cash dividend of 13.5 per cent (13.5 baiza per share) and a bonus share issue of 7.5 per cent (75 shares per 1,000 shares) of the share capital of the bank.