The General Assembly of the Investment Bank held its annual meeting via video and physical communication at the bank’s main headquarters in the Emirate of Sharjah, on Monday. The meeting was chaired by Acting Idris Muhammad Al-Rafi, Vice Chairman of the Bank’s Board of Directors, and the meeting was attended by the rest of the members of the Board of Directors, a number of shareholders, as well as the executive management.
The General Assembly discussed and approved the items included in the agenda of the annual meeting, where the Board of Directors’ report was presented on the bank’s activity and its financial position for the fiscal year ending on 12/31/2023, the external auditor’s report for the same year was heard, and the bank’s budget and profits account were discussed. And losses for the same fiscal year. The Assembly also agreed to discharge the members of the Board of Directors and the External Auditor for the fiscal year ending on December 31, 2023. The Assembly has ratified the above items.
The appointment of PwC Middle East to assume the role of the bank’s external auditors for the fiscal year 2024 was also approved. It was unanimously voted to appoint Mohammed Obaid Al Shamsi as a new member to complete the current term in the vacant position of board member, and the assembly also approved Other items of the annual meeting.
For his part, Ahmed Abu Eida, CEO of the Investment Bank, said: “We have come a long way in achieving our strategic priorities, as the year 2023 was a historic stage for the bank, through the successful completion of the process of restructuring the bank’s capital, which resulted in achieving operating profits for the first time.” “The first in years.”