The Islamic International holds its unusual generality

QIIB held the Extraordinary General Assembly meeting yesterday via Zoom, chaired by His Excellency Sheikh Abdullah bin Thani bin Abdullah Al Thani, and in the presence of representatives of Qatar Central Bank and the Ministry of Commerce and Industry. The agenda items were discussed and approved by the shareholders as follows: Next: Considering the recommendation of the Board of Directors to amend the preamble and some of the Articles of the Articles of Association that conflict with the Banking Governance Instructions issued by the Qatar Central Bank or that should be added to the Articles of Association, which are Articles (22, 23, 24, 29, and 31) according to the following: Amending the Preamble in the Articles of Association To become in accordance with the following: In accordance with the provisions of Commercial Companies Law No. (11) of 2015 and its amendments No. 8 of 2021, Qatar Central Bank Law and Regulation of Financial Institutions No. 13 of 2012 and Banking Governance Instructions No. 25/2022 issued by Qatar Central Bank and the provisions of this system basic. Amending Article 22 – by amending the number of Board members to 11 members instead of 9 members to become Article 22 as follows: The bank is managed by a Board of Directors consisting of (11) members elected by the Ordinary General Assembly by secret vote. Amending the third paragraph of Article 23 – with regard to appointing one-third of the independent members of the Board of Directors to become one-third of the members of the Board of Directors, with a minimum of three members, to amend the number of members of the Board, and to add a condition for the independent member to hold a university degree and have financial or banking experience, and amend the text of this paragraph From Article 23 with the addition of a new condition to the terms of membership of the Board of Directors in Clause 4 as follows: One-third of the members of the Board of Directors must be appointed from independent non-shareholders (with a minimum of three members) and they must have at least university degrees and have financial or banking experience. The member should have adequate financial solvency to carry out his duties honestly and objectively, and he should not have been declared bankrupt, failed to pay his debts, caused losses to financial institutions, or previously been dismissed by the Qatar Central Bank or any other supervisory authority, and that all membership conditions specified in the instructions apply to him. Governance of banks issued by Qatar Central Bank. Amending the second paragraph of Article 24 – to specify the maximum limit for an independent member in the membership of the Bank’s Board of Directors with two terms as a maximum so that the second paragraph of Article 24 becomes according to the following: With the exception of the independent member and for a maximum of two electoral terms, the member may be re-elected more than once, provided that the member does not lose Conditions for membership in the Articles of Association and its internal regulations or the Commercial Companies Law, and the member may withdraw from the Board, provided that this is at an appropriate time, otherwise he is responsible before the company, and amending Article 29 – regarding the minimum number of members present for the Council’s quorum to be 6 members instead of five members and amending The maximum period between the meeting and the meeting that follows it is two months, so that Article 29 becomes according to the following: The board of directors meets at the invitation of its chairman, and the chairman must invite the board to a meeting if requested by at least two of its members. The meeting of the Board shall not be valid unless attended by at least half of the members, provided that the number of attendees shall not be less than (6) members, including the Chairman or his deputy, and the Board of Directors shall hold at least six meetings during one fiscal year. Amending Article 31 – so that the minutes of the meetings of the Board of Directors are signed by all the chairman and members of the Board and the secretary instead of the previous one that requires the chairman and managing director to sign, if any, so that the text of Article 31 becomes as follows: The minutes of the meetings of the Board of Directors are recorded in a special register, and he signs this The minutes are each of the chairman and members of the board and the secretary of the board of directors. The minutes of the meetings are recorded in the register on a regular basis after each session, and in successive pages. Second – Consider authorizing the Chairman of the Board of Directors to make any amendments to the Articles of Association in accordance with the decisions of the Extraordinary General Assembly and the Banking Governance Instructions issued by the Qatar Central Bank.