Al Khalij Commercial Bank announces the results of the AGM. The meeting was held on 23/03/2021 and the following resolution were approved

1. Approved the Board of Directors’ report on the Company’s activities and its financial position for the year ended 31 December 2020 and the Company’s future plans;
2. Approved 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 2020; 
3. Discussed and approved the Company’s financial statements and income statement for the year ended 31 December 2020; 
4. Adopted the profits appropriation policy and approved the proposal of the Board of Directors regarding the distribution of cash dividends in the rate of 5.6% of the share nominal value (QAR 0.056 per share) for the year ended 31 December 2020; 
5. Reviewed and 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;
6. Approved the Corporate Governance Report for the year 2020 including endorsement of the policy of remuneration and incentives of the Board and Senior Management members; 
7. Absolved the Board members from any liability and fix their remuneration for the financial year ended 31 December 2020; 
8. Appointed Deloitte and Touch as the External Auditor of the Company for the financial year 2021 and fixed their fees; and 
9. Extended the mandate of the Board of Directors of the Company with its current composition and members as elected in the General Meeting of Shareholders of the Company on 27 February 2018 until the Effective Date of the proposed merger with Masraf Al Rayan, subject to the approval of the extraordinary general assembly of shareholders on the merger. 

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