Damaan Islamic Insurance Company announces that the General Assembly Meeting AGM and EGM will be held on 07/03/2024, In Main Branch - Lusail and 04:30 PM. In case of not completing the legal quorum, the second meeting will be held on 14/03/2024, In Main Branch - Lusail and 09:30 PM 

First : The Agenda of the Annual General Assembly Meeting: 

1.Discussing the Board of Directors’ report regarding the Company’s activity and its financial Position during the fiscal year ending 12/31/2023, in addition to Approving the company’s future plan.

2. Discussing & approving the auditors’ Financial for the year 2023.

3. Discussing & approving the Sharia Supervisory Board report for the year 2023.

4. Discussing and approving the annual budget and the profits and losses statement.

5. Approving the distribution of profits of 2023 for the shareholders and distribution of the surplus for the policyholders.

6.Considering discharge of the Board of Directors’ members and approve their remunerations.

7. Discussing and approving the governance report. 

8. Approval of the main transactions and the related parties’ transactions that the company concluded during the fiscal year ending on 12/31/2023

9. Appointment  of an auditors, specifying his remuneration for the coming year, unless it is specified in the Articles of Association. 

10. Election of members of the Board of Directors for the remainder of the period (2023-2027) 

Second : The agenda of the extraordinary general assembly meeting (EGM):

1.   Approving the amendment to the text of Article (2) of the company’s Articles Of Associations (company purposes) by adding clause (1) to read as follows:

 

Accounts Separation and Insurance Operation Surplus :

The Company maintains a distinct and separate account for its Policyholders, known as the Policyholders’ Account. This account is credited by the contributions paid by the Policyholders and returns of their investments and debited by claims, reinsurance Contribution, the necessary provisions and reserves and the Wakala Fee. The surplus arrived at (if any) will be distributed in all or partially to the Policyholders in proportion to the contribution paid by them in the manner decided by the Board of Directors and approved by the Shariá Supervisory Board.

2.             Approval to amend the text of Article (28) of the Company’s Articles of Association (Company Management) (Board of Directors and Appointment of Board Secretary) to read as follows:

Before 

“The Company shall be managed by a Board consisting of nine directors, all of whom shall be elected by the Ordinary General Assembly by secret ballot.”

After 

“The Company shall be managed by a Board consisting of Ten directors, all of whom shall be elected by the Ordinary General Assembly by secret ballot.”

 

Click here to download attachment