Commercial Bank of Qatar (Q.S.C.) Announces Board Appointments; Approves Cash Dividend for the Year 2013
March 19, 2014 at 07:36 am EDT
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Commercial Bank of Qatar (Q.S.C.) has announced its Board of Directors for the next three years following the Bank's AGM earlier this week. At the board meeting immediately following the Bank's AGM, Sheikh Abdullah bin Ali bin Jabor Al Thani was elected Chairman of the Board of Directors of Commercial Bank, and Mr. Hussein Alfardan was elected Vice-Chairman and Managing Director. Commercial Bank's elected Board of Directors for the next three years are: Mr. Jassim Al Mosallam Director; Mr. Abdullah Al Mannai Director; HE Mr. Abdul Rahman Bin Hamad Al Attiyah Director; Sh. Jabor Bin Ali Bin Jabor Al Thani Director; Mr. Omar Hussain Al Fardan Director; Mr. Ali Mohd Ghanim Al Mannai - Director (Representative of Qatar Insurance Company); Mr. Mohd Ismail Mandani Al Emadi - Director (Representative of M/S Savings Development Company LLC).
The company shareholders also approved a cash dividend of 20% of the share's nominal value for 2013, equivalent to QAR 2 for each share held.
Commercial Bank PSQC, formerly Commercial Bank QSC, is a Qatar-based financial institution that provided banking solutions. The Bankâs operations are structured into two business segments: the Wholesale banking segment provides s a range of conventional commercial and investment banking services and products to large, medium and small enterprises, including corporate lending, trade finance, syndicated loans, deposits, letter of credit and guarantees, and the Retail Banking segment provides conventional retail banking services and products to retail customers in Qatar, including current and deposit accounts, wealth management, mortgage lending, personal and vehicle loans and credit card and other card services. The Bank operates through a network of nearly 29 full services branches and 152 automated teller machines (ATMs). In addition, the Bank owns and operates Diners Club franchises in Qatar and Oman.