Masraf Al Rayan Q S C : Dr. Hussein Al-Abdullah elected Chairman & Managing Director, Mr. Turki Al Khater for Vice Chairman

Masraf Al Rayan held its Ordinary General Assembly Meeting on Sunday, 2 April 2017, in which the following set of resolutions was adopted:

• The General Assembly discussed the Board of Directors report on the activities of Masraf Al Rayan and its financial position for the fiscal year ended on 31st December 2016 and the future plans of the Bank.
• The General Assembly discussed the Shari'ah Supervisory Board report in compliance of Masraf Al Rayan with Shari'ah rules for fiscal year ended on 31st December 2016.
• The General Assembly discussed and approved the External Auditors report on the Balance Sheet and Income Statement of Masraf Al Rayan as presented by the Board of Directors for the fiscal year ended on 31st December 2016.
• The General Assembly discussed and approved the financial Statements of Masraf Al Rayan for the fiscal year ended on 31st December 2016.
• The General Assembly discussed and approved the proposals of the Board of Directors regarding appropriation and cash dividend of QR.2.00 per share, representing 20% of the paid-up capital for the fiscal year 2016.
• The General Assembly discussed and approved the Corporate Governance Report of Masraf Al Rayan for the year 2016.
• The General Assembly agreed to absolve the Chairman and Members of Board of Directors from all responsibilities for the fiscal year ended on 31st December 2016, and approved an amount of QR 14,300,000 (QR Fourteen Million and Three Hundred Thousand) as remuneration for the Chairman and Board Members for the year ended on 31st December 2016.

The General Assembly also approves the updated guide of Rules of Compensation and Remuneration of the Board of Directors.

• The General Assembly approved the Board of Directors' recommendations concerning the appointment of the Shari'a Supervisory Board of Masraf Al Rayan for the coming 3 years (201 7- 2019) and gave the power to the Board of Directors to add a new member / members or to fill any vacancy in the Shari'a Supervisory Board and to fix their remunerations and gave them the power to handle any other issues related to Shari'a Supervisory Board during the period mentioned herein above.
• The General Assembly approved the Board of Director's recommendations for issuance of up to a maximum of US$ 2 billion equivalent of Islamic Sukuk -when necessary and in whatever currency- to meet Masraf Al Rayan's liquidity needs. Also, The General Assembly gave the power to the Board of Directors of Masraf Al Rayan to implement the Sukuk issuance in stages according to Masraf Al Rayan's need, subject to the approval of the concerned governmental authorities.
• The General Assembly agreed to appoint 'KPMG ' to audit Masraf Al Rayan and its Subsidiaries (excluding Al Rayan-UK) for fiscal year 2017 and approved their fees of QR 1,195,000.

The General Assembly elected 7 members to be Board members for 3 years (2017-2019). The following candidates have got number of votes as indicated below ( arranged from high to low ) :

Serial	Name	Number of Votes
1	Dr. Hussain Ali Al Abdulla	57,342,358
2	Sheikh Ali Bin Jassim M. J. Al-Thani	57,224,812
3	Ministry of Defense, Qatar Armed Forces Represented by Mr. Nasser Jaralla S. Jaralla Al Marri	47,241,903
4	Mr. Abdulla Ahmed A. A. Al-Jehani	42,089,946
5	Taskeen for Business & Investment Co. Representative to be appointed later	40,938,769
6	Employee Loans Fund , Ministry of Interior Represented by Dr. Menahi Khalid M. A. Al Hajri	36,651,386
7	Sheikh Nasser Bin Hamad N. J. Al-Thani	34,968,860
8	Shatea Al-Nile Company S.O.C. Represented by Mr. Nasser Mohammed. Al Abdulla	34,729,549
Total		351,187,583

On the other hand, the elected Board of Directors held its first meeting, during which HE Dr. Hussein Ali Abdul Rahman Al-Abdullah, was elected Chairman and Managing Director and HE Mr. Turki Mohammad Al Khater as Vice Chairman.

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