Qatar First Bank (QFC): The AGM Endorses items on it’s agenda
Qatar First Bank (QFC) announces the results of the AGM. The meeting was held on 23/03/2022 and the following resolution were approved
1. Approved the Chairman’s report on the Bank’s activities and the financial position for the financial year ended 31 December 2021, and the Bank’s business plan for the year 2022.
2. Approved the report of the Shari’a Supervisory Board of the financial year ended 31 December 2021.
3. Approved the External Auditor’s report on the Bank’s Financial Statements for the year ended 31 December 2021.
4. Approved the Bank’s consolidated and audited financial statements, including the profits and losses report, and balance sheet, for the financial year ended 31 December 2021.
5. Approved the Bank’s Annual Report for the financial year ended 31 December 2021.
6. Approved the proposal of the Board of Directors not to distribute dividends and not to take optional reserves for the financial year ended 31 December 2021.
7. Approved discharging the members of the Board of Directors from any liability in relation to their duties and responsibilities for the financial year ended 31 December 2021 and approved the Board’s recommendation not to award bonuses to the board members for the financial year ended 31 December 2021.
8. Approved the Bank’s Corporate Governance Report for the year 2021 and the External Auditor’s independent report on the effectiveness of the design, implementation, and operation of ICOFR and compliance with QFMA’s corporate governance regulatory requirements.
9. Approved all major transactions undertaken by the Bank during the financial year ended 31 December 2021.
10. Approved renewing the appointment of Ernst & Young as the Bank’s auditors for the financial year 2022 and approved their fees as per the recommendation of the Board.
11. Elected five board members (Independent and Non-Independent) through an uncontested election in accordance with the applicable rules and regulations for a period of three years and ratified the appointment of two board members made by the Bank’s Strategic Shareholders in accordance with article 34.2 of the Bank’s Articles of Association for a period of three years:
Independent Board Members:
1. Mr. Ibrahim Mohamad Ibrahim Jaidah;
2. Mr. Mohamed Yousef Al Mana;
3. Mr. Mohammed Nasser Al Hajri.
Non-Independent Board Members:
1. Shift Company W.L.L. represented by Eisa Mohamad Al-Mohannadi;
2. Al Wajba Business Development represented by Saad Nasser El Kaabi.
Board Members appointed by the Bank’s Strategic Shareholders (Al Zubara Real Estate Investment Company W.L.L and Broog Trading Company W.L.L.)
1. H.E. Sheikh Faisal bin Thani Al Thani appointed by Al Zubara Real Estate Investment Company W.L.L.;
2. Mr. Jassim Mohamad Al -Kaabi appointed by Broog Trading Company W.L.L.