Doha – Mubasher: Qatar’s Ministry of Economy and Commerce (MEC) levied a fine of QAR 1 million on Qatar International Islamic Bank (QIIB) QAR 1 million for holding its extraordinary general meeting (EGM) without obtaining an approval from the ministry’s corporate supervision department, which is contrary to the state’s commercial companies law.

QIIB earlier postponed its EGM as a motion for summary judgment was filed against the bank to suspend voting in the meeting.

The bank’s share closed Tuesday with a rise of 0.74% to QAR 68.5, as 109,000 shares were traded at QAR 7.4 million.