The General Assembly of the Investment Bank held its annual meeting at the bank’s main headquarters in Sharjah on Monday. The meeting was chaired by Acting Idris Muhammad Al-Rafi, Vice Chairman of the Bank’s Board of Directors, and was attended by the rest of the members of the Board of Directors, shareholders, and executive management.
During the meeting, Ahmed Abu Eida, CEO of the Investment Bank, expressed satisfaction with the progress made toward achieving strategic priorities. He highlighted the historic milestone of restructuring the bank’s capital in 2023, resulting in operating profits for the first time in years.
The Assembly discussed and approved several items on its agenda. This included presenting reports on various aspects of the bank’s activity and financial position for the fiscal year ending on 12/31/2023. These reports were presented by different committees that were set up specifically to handle these matters.
The external auditor’s report for 2023 was also discussed during this meeting. The General Assembly agreed to discharge both members of the Board of Directors and external auditors for that fiscal year. Additionally, PwC Middle East was appointed as the bank’s new external auditors for 2024 unanimously.
Mohammed Obaid Al Shamsi was also appointed as a new member to complete his current term in one vacant position on board member. Other items that were approved during this annual meeting included approving other proposals made by different committees during their meetings earlier this year.
Overall, this annual meeting was a success as it allowed all stakeholders to discuss important issues related to our bank and make informed decisions about our future direction.
