Masraf Al-Rayan: The AGM and EGM Endorses items on it's agenda 

Masraf Al-Rayan announces the results of the AGM and EGM. The meeting was held on 27/04/2022 and the following resolution were approved

1. Endorsed the Board of Directors’ report on the Company’s activities and its financial position for the year ended 31 December 2021 and the Company’s future plans; 

 
2. Heard the Shari’ah Supervisory Board report on compliance of Masraf Al Rayan to Shari’ah rules for fiscal year ended on 31 December 2021;
3. Endorsed the External Auditor’s Report on the Company’s financial position and the accounts submitted by the Board of Directors for the year ended 31 December 2021; 

 
4. Endorsed the Company’s financial statements and income statement for the year ended 31 December 2021; 

 
5.Endorsed the profits appropriation policy and approved the proposal of the Board of Directors regarding the distribution of cash dividends in the rate of 17% of the share nominal value (QAR 0.17 per share) for the year ended 31 December 2021; 

 
6. Endorsed the External Auditor’s report on the requirements of Article (24) of the Corporate Governance Code issued by Resolution No. (5) of 2016 of the Board of Directors of Qatar Financial Markets Authority (“QFMA”) regarding the Bank’s compliance with corporate governance regulations and Internal Control over Financial Reporting requirements;

 
7. Endorsed the Corporate Governance Report for the year 2021 including endorsement of the policy of remuneration and incentives of the Board and Senior Management members; 

 
8. Absolved the Board members from any liability and fix their remuneration for the financial year ended 31 December 2021; 

 
9. Appointed Deloitte and Touch as the External Auditor of the Company for the financial year 2022 and fixed their fees; 

 
Resolutions of Extraordinary General Meeting:

1. Approved proposed amendments of Articles  (9), (12), (19), (20), (24), (25), (30), (31), (34), (35), (36), (43), (50) and (55) of the Bank’s Articles of Association (“AOA”) authenticated under No. 12953/2021 dated 11/11/2021 mainly to comply with Law No. (8) of 2021 amending some provisions of Commercial Companies law No. (11) of 2015 and with corporate governance instructions of Qatar Central Bank (“QCB”) and Qatar Financial Markets Authority QFMA (“QFMA”) and authorized the Chairman of the Board and/or Vice Chairman and/or whomever the Board may delegate to sign the final version of the amended AOA and complete the required formalities subject to necessary regulatory approvals. 

 
2. Authorized the Board of Directors or whomever the Board may delegate to dispose of the fractional shares resulting from the merger with Al Khalij Commercial Bank (al khaliji) PQSC as it may deem appropriate.