Masraf Al-Rayan announces the results of the AGM. The meeting was held on 15/03/2023 and the following resolution were approved

Resolutions of Annual General Meeting:
1. Considered and endorsed the Board of Directors’ report on the Company’s activities and its financial position for the year ended 31 December 2022 and the Company’s future plans;
2. Considered the Shari’ah Supervisory Board report on compliance of MAR to Shari’ah rules for fiscal year ended on 31 December 2022;
3. Considered and 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 2022;
4. Discussed and endorsed the Company’s financial statements and income statement for the year ended 31 December 2022;
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 10% of the share nominal value (QAR 0.10 per share) for the year ended 31 December 2022;
6. Considered 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;
7. Discussed and endorsed the Corporate Governance Report for 2022 including endorsement of the policy of remuneration and incentives of the Board and Senior Management members and MAR ESG Framework;
8. Absolved the Board members from any liability and fixed their remuneration for the financial year ended 31 December 2022;
9. Appointed PWC as the External Auditor of the Company for the financial year 2023 and fixed their fees;
10. Approved Board recommendation on appointment of the members of the Shari’ah Supervisory Board (SSB) for the term 2023-2025 and delegated the Board to add one or more new member(s) or to fill any vacancy that may occur for any reason whatsoever, fix their remunerations and assume any other matter related to SSB during the new term, subject to QCB approval.
11. Selected the new Board of Directors for the new term 2023-2024-2025 as follows:

1.HE Sheikh Mohamed Bin Hamad Bin Qassim Al Thani, appointed by Qatar Investment Authority/Qatar Holding
2.HE Sheikh Hamad Bin Faisal Bin Thani Al Thani, appointed by Qatar Investment Authority/Qatar Holding
3.Mr. Turki Al Khater, appointed by General Authority for Retirement and Social Insurance
4.Mr. Nasser Jaralla Al Marri, appointed by Qatar Armed Forces Portfolio/Barzan Holding
5. Mr. Abdulla Nasser Al Misnad, Independent member
6. Mr. Mohamed Al Saadi, Independent member
7. Mr. Abdulla Hamad Al Misnad, Independent member
8. Mr. Abdulrahman Al Khayareen
9. Mr. Mohamed Jaber Al Suleiti
10. Sheikh Ali Bin Jassim Al Thani
11. Sheikh Nasser Bin Hamad Al Thani
12. Mr. Abdulla Al Malki – backup

For details, please check the press release enclosed.