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QATAR ISLAMIC INSURANCE : THE AGM ENDORSES ITEMS ON IT’S AGENDA

Qatar Islamic Insurance announces the results of the AGM. The meeting was held on 05/04/2022 and the following resolution were approved

1-  Approval of the report of the Board of Directors for the Year Ended 31.12.2021.

2-  Approval of the report of the Shari’a Supervisory Board for the Year Ended 31.12.2021.

3-  Approval of the report of the Independent Auditors for the Year Ended 31.12.2021.

4-  Approval of the Policyholders and Shareholders’ Financial Statements for the Year Ended 31.12.2021. And approved of the recommendation made  by  the Board of  Directors  to  distribute cash dividends equaling 40 % of the shares nominal value i.e. QR 0,40 per share for the Year Ended 31.12. 2021

5-  Absolving the Board of Directors of all responsibility and granting there remunerations for the Financial Year 2021.

6-  Approved of the report of the Governance for the year 2021.

7-  Approved appointing M/S. Ernst & Young as the Company’s new Independent Auditors for the Financial Year 2022.

 

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Qatar Oman Investment Company: The AGM and EGM Endorses items on it’s agenda

Qatar Oman Investment Company announces the results of the AGM and EGM. The meeting was held on 05/04/2022 and the following resolution were approved

 

Decision of the Ordinary General Assembly meeting :

1-         At the beginning the Chairman delivered his speech, by welcoming the attendees and explained the activities of the company addition the final financial statements ending 31 December 2021 , He was also explain the company future plan

2-         The External Auditor explained the budget of the company and the accounts which presented to them by the Board of Directors and approved it .

3-         Discussion of the audited  the financial statement   and profit and loss statement for the year ended  31 December 2021 , the profit reached QR 4,995,524 and approve it .

4-         The General Assembly discuss the report of Corporate Governance for 2021 and approve it .

5-         The General Assembly approve the Board recommendation of the distribution of 1% cash dividends which representing 1 Dirhams per share .

6-         The General Assembly discharge the Board Members for  the  financial year ended  31 December 2021 .

7-         Approved for the offer of  (Rodel )  and appoint it as External auditor for 2022 and determined the annual fees

 

Decision of the Extra Ordinary General Assembly meeting :

1-      Approved of amending and updating the company’s articles of association in accordance with Law No. (8) of 2021 regarding the amendment of some provisions of the Commercial Companies Law promulgated by Law No. (11) of 2015.

2-      Approved of authorizing the chairman to amend the company’s articles of association to comply with Law No. (8) of 2021 regarding the amendment of some provisions of the Commercial Companies Law promulgated by Law No. (11) of 2015.

 

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QATAR STOCK EXCHANGE WILL LAUNCH NEW TRADING SYSTEM IN COOPERATION WITH LSEG

LSEG (London Stock Exchange Group plc), today announced it has entered into an agreement to provide its trading and market surveillance technology to Qatar Stock Exchange (QSE). The new platform will replace QSE’s existing trading and market surveillance systems and will enable QSE to expand into derivatives trading in the future.

Qatar Stock Exchange will be powered by the same technology used by LSEG. The new QSE solution will be based upon LSEG’s financial markets product suite, a robust, scalable, and high-performance technology offering, which includes trading, market data, data analytics, and market surveillance. Utilizing a common foundation, all products adhere to a unified architecture and share the same technology framework, data constructs and software engineering methodology.

At the completion of this project, QSE will have a proven technology solution, offering high performance, low latency matching and a powerful market surveillance solution including market data visualization and analytics.

LSEG’s financial markets technology products are used by over 25 financial markets infrastructure operators across the globe, including Johannesburg Stock Exchange, Singapore Exchange and LSEG.

Mr. Tamim Hamad Al-Kawari, CEO of Qatar Stock Exchange, said: “QSE is looking forward to working with LSEG to provide us with industry leading resilience, performance, and business capabilities. The implementation of this technology will enable QSE and its customers to pave the way for QSE to become the leading financial markets innovator in the region.”

The launch of the new trading system will be a great milestone for QSE. It enables us to deliver even greater value as well as offering new products and services to a whole new range of potential clients and participants in the derivative and equity capital markets arena. I would like to thank all our stakeholders who have supported us with this strategic initiative which is very important as we seek to sustain future growth, Ms. Aisha Al-Mahmoud, QSE’s IT Director, commented.

Mr. Peter Jessup, Head of Market Infrastructure Business Development, Trading & Banking Solutions, LSEG, said: “We are excited to have several of our products selected by QSE to power their market and provide the foundation of QSE’s ongoing growth.”

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QNB GROUP ANNOUNCES THE COMPLETION OF LEGAL FORMALITIES WITH RESPECT TO INCREASE IN FOREIGN OWNERSHIP LIMIT TO 100%

Following shareholder approval of amendments to QNB’s Articles of Association at the Extraordinary General Assembly meeting held on 13 February 2022, QNB announces that it has procured all the required regulatory approvals from respective regulators to amend Article 10 of QNB’s Articles of Association, to allow foreign ownership limit of up to 100%.

The Bank will process the application to increase the limit with the competent authorities with immediate effect.

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