QIIB board of directors has announced plans to discuss the potential distribution of semi-annual dividends to shareholders.

This discussion will take place at their upcoming meeting, which will review and approve the semi-annual financial results for the period ending June 30, 2024.

QIIB chairman Sheikh Dr Khalid bin Thani bin Abdullah al-Thani stated that the board of directors, at their meeting held on Wednesday discussed a proposal to be included and discussed in the agenda of board meeting scheduled for July 21.

The proposal includes the possibility of distributing semi-annual cash dividends to shareholders. This move comes as a culmination of steps previously initiated following the amendment of the QIIB's articles of association to include a provision allowing the board, based on their decision, to make quarterly or semi-annual distributions.

This aligns with the Qatar Financial Markets Authority (QFMA) board of directors’ Decision No. 3 of 2023 on the Rules of Dividend Distribution by Listed Joint-stock Companies.

Sheikh Khalid emphasised that this initiative was aimed at boosting economic activity and providing liquidity to investors, especially small shareholders.

He highlighted that this step aligns with country’s economic policy and the Qatar National Vision 2030, which aim to generate quicker returns for shareholders.

This, in turn, will enable them to reinvest in various sectors within Qatar, including the rapidly evolving financial markets, which now offer a range of investment products alongside the shares of listed companies. This development is expected to have a positive impact on the overall financial market.

Sheikh Khalid said QIIB aspires to be a pioneer in successfully adapting to the general economic trends and meeting the aspirations of investors who are shareholders in the bank.

This is planned to be achieved by taking practical steps regarding the implementation of the decision of the Qatar Financial Markets Authority by fulfilling the required approvals from the regulatory authorities and fully complying with the legal requirements according to the dates specified in the conditions for implementing the interim distributions.