The Ministry of Commerce and Industry (MOCI) organized a seminar to announce an online platform for holding general assemblies of shareholding companies.
The seminar was attended by representatives of shareholding companies and audit offices, and was aimed at introducing shareholding companies to the mechanism and the method of using the new system to submit requests to hold general assemblies to the Ministry electronically, and introducing shareholders to the registration steps to attend general assembly meetings, and other services.
The MOCI said in a statement Tuesday that the initiative was launched in cooperation with Qatar Central Securities Depository (Edaa); noting that the platform aims to promote shareholder participation in an effective manner by providing the service of holding annual general meetings of shareholding companies remotely, in addition to offering shareholders electronic voting on the items presented during the general assemblies, and an immediate display of the voting results and the final report of the general assembly, providing flexibility for shareholders and their representatives, easy access to the general assemblies of shareholding companies, and voting on agenda items.
The platform also aims to further highlight the important role of shareholders in fully and effectively exercising their voting rights during the annual general assembly meetings, offering them easy means of communication in meetings held remotely, thus enhancing their participation.
Director of Corporate Affairs Department at MOCI Salem bin Salim Al Mannai said the launch of the online platform for holding general assemblies of shareholding companies remotely by Edaa in coordination with the Ministry of Commerce and Industry contributes to facilitating the management and organization of the work of general assemblies, by facilitating voting processes and making decisions remotely.
The step is in line with the Ministrys efforts aimed at facilitating the practice of investment and commercial business in the country, removing investment obstacles for investors and protecting them from unfair and unsound practices, and developing and organizing the commercial companies sector in the country and providing all means of assistance to it, in addition to improving the regulatory environment by developing tools that help companies achieve the highest level of compliance with the requirements of legislative systems, and supporting the Ministrys initiatives within the framework of digital transformation to achieve the goals of Qatar National Vision 2030, Al Mannai added.
HE Head of Inspection and Control Department at MOCI Sheikha Jawaher bint Mohammed Al-Thani presented introductory videos about the platform to the attendees; emphasizing in a speech the Ministrys diligent work to prepare this program for the public in order to improve the management and organization of general assemblies of shareholding companies and to reach the highest standards in the field of corporate governance.
The importance of the program in facilitating the work of investors and shareholders, and improving the work of joint stock companies, which contributes to advancing economic development in the country.
She stressed the importance of this platform in facilitating the work of investors and shareholders, and improving the work of shareholding companies, thus supporting the economic development process in the country.
HE CEO of Edaa Sheikh Saif bin Abdullah Al-Thani explained that Edaa has started implementing the electronic annual general assembly (E-AGM) system in the State of Qatar, which is a crucial step in its journey towards digital transformation in corporate governance.
This step confirmed the commitment to promoting a more efficient and transparent business environment, and is consistent with the national vision to adopt digital solutions for a smarter future, His Excellency added, noting that adopting the E-AGM) system is crucial to enhancing shareholder participation, ensuring regulatory compliance, and maintaining the highest standards in security and integrity.
