QIIB extraordinary general assembly approved an amendment to the bank’s Article of Association, raising the number of directors on the Board to 11 instead of the existing nine.
The bank’s EGM yesterday amended Article 22 of QIIB’s Article of Association in this regard.
It amended Article 29, whereby the quorum required for a board meeting must be six members instead of five and the period between two meetings should not exceed two months.
Amended Article 29 will be as follows: The Board of Directors meets by an invitation from the chairman, who shall invite the board to a meeting if requested by at least two of its members. The meeting of the board shall not be valid unless attended by at least half of the members, provided that the number of attendees must not be less than six members, including the chairman or his deputy.
There shall be six meetings to be held in a financial year. It is permissible to participate in the meeting of the Board of Directors by any secure means of recognised modern technology that enables the participant to listen and actively participate in the work of the Board.
Amended Article 31 reads: The minutes of meeting of the board is signed by the chairman, board members and the board secretary instead of the previous one in which it was signed by the chairman and managing director, if any.
The minutes of the meetings of the Board of Directors shall be recorded in a special register, and these minutes shall be signed by the chairman and members of the board and the secretary of the Board of Directors.
The EGM approved amendments to the preamble and articles (22, 23, 24, 29 and 31) of the Article of Association of the bank to match with the regulations of corporate governance for banks issued by the Qatar Central Bank or to add them in the Article of Association.
The EGM authorised the chairman to make amendments in the Article of Association in accordance with extraordinary general assembly decisions or the instructions of the QCB (regulation number 25/2022) and to authorise the chairman to sign the amended Articles of Association for the official authorities.
QIIB extraordinary general assembly meeting was presided over by Sheikh Abdullah Thani Abdullah al-Thani.
QIIB's extraordinary general assembly approved an amendment to the bank’s Article of Association, raising the number of directors on the board to 11 instead of the exiting nine.
