Jordan Kuwait Bank : Jordan Kuwait Bank’s...

The Ordinary General Assembly Meeting of Jordan Kuwait Bank was held on Tuesday 4/5/2021 via video and electronic communication tools, pursuant to the provisions of Defense Law No. (13) of 1992 and Defense Order No. (5) of 2020 and the procedures issued by His Excellency the Minister of Industry, Trade and Supply on 9/4/2020 under the above defense order.

The meeting was headed by His Excellency Mr. Abdel Karim Kabariti, Chairman of the Board of Directors, and in presence of all members of the Board of Directors and shareholders holding a total of 125,870,665 shares constituting 83.9% of the capital. The meeting was attended by H.E. Dr. Wael Al-Armouti, the General Controller of Companies.

The General Assembly endorsed the items on the agenda of the Ordinary General Assembly meeting, and it elected the members of the bank's Board of Directors for the new session 2021-2024, including the following members:

First: Non-Independent members:

• Mr. Faisal H. Al Ayyar
• Al Rawabi United Holding Co. - Kuwait (represented by Mr. Tariq M. Abdul Salam)
• Kuwait Projects Co. (Holding) - Kuwait (represented by Mr. Masaud M. Jawhar Hayat)
• Social Security Corporation - Jordan (represented by H.E. Mr. Marwan M. Awad and Mr. Nidal F. Qubbaj)
• Odyssey Reinsurance Co. - U.S.A (represented by Mr. Bijan Khosrowshahi)
• Safari Development & Real Estate Investment Co. (represented by Mr. Majed F. Burjak)

Second: Independent members:

• Mr. Nasser A. Lozi
• H.E. Dr. Marwan J. Muasher
• Dr. Safwan S. Toqan
• Mrs. Nadia A. Rawabdeh
• Mr. Hani K. Hunaidi
• Dr. Omar M. Al Jazy

His Excellency Abdel Karim Al-Kabariti said 'I would like to bid you farewell and this is an occasion in which we recall and the long journey in which all the dear members of the Board of Directors have accompanied us for more than twenty years. First we must thank Dr. Yousef Goussous and Mr. Mansour Louzi, as the three of us will be departing the board of directors for new members of economic stature and capabilities: Dr. Omar Al-Jazy; Mrs. Nadia Rawabdeh; and Mr. Nasser Lozi who will be leading the new board of directors. I believe that this station along this long journey, a journey that relied on achieving its successes in a traditional manner of relations and paperwork. Now being the time to move to new horizons in which digitization is the core, I believe that Nasser alongside Mr. Haethum Buttikhi as head of the executive management are qualified to the run the helm, and we are confident that there will be successes and a shift for the bank to new heights.

With all the admiration, gratification and pride in your performance, and alongside your presence, I pray for you to be safe, to be protected in the eyes of the most merciful, and to God protect you all. Best wishes.'

Immediately after the end of the General Assembly meeting, the Board of Directors held its first meeting, wherein it reviewed the decisions of the ordinary General Assembly meeting. Mr. Nasser Lozi was elected Chairman of the Board of Directors and Mr. Faisal Al Ayyar Vice Chairman. The Board also formed the committees emanating from it in accordance with the instructions of the Corporate Governance of the banks.

The Chairman and members of the Board, on their behalf and on behalf of the bank's shareholders, expressed their great appreciation and gratitude to His Excellency Mr. Abdel Karim Kabariti for all the distinguished effort and support he has provided to the Bank over the past 24 years, as well as the motivating leadership capabilities and high administrative skills that he showed which established a unique model in banking management all of which has been reflected in the Bank's achievements, identity and prestigious image as a leading national and regional banking institution that enjoys recognition, respect and a great reputation in the domestic and foreign banking industry.