Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Hussain Ali Al Abdulla re-elected chairman of Masraf Al Rayan  Join our daily free Newsletter

MENAFN - The Peninsula - 04/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) The newly-elected board of directors of Masraf Al Rayan has re-elected Dr Hussain Ali Al Abdulla as the chairman of the bank yesterday. Dr Thani Abdurehman Shaheen Al Kuwari is the new vice chairman



Earlier, the bank's ordinary general assembly elected the new board members of Masraf Al Rayan. They include Manahe Khalid Mohammed Al Hajri, Abdullah Ahmed Al Malki Al Jehani, Nasser Mohammed Al Abdullah, Khalaf Sultan Rashi Al Sahiri, Sheikh Nasser bin Hamad bin Nasser Al Thani. The assembly also elected four reserve members to the board



The general assembly approved the 10-member agenda, including the board's recommendation to distribute the cash dividends of QR1.5 per share which is equivalent to 15 percent of the total paid up shares of the bank



The meeting also approved an amount of QR12.90m as remuneration for the chairman and board members for the year ended on December 31, 2013.



Addressing the general assembly, Dr Hussain Al Abdullah, Chairman and Managing Director, said "the bank declared a net profit of QR1.7bn for the financial year 2013, a growth of 13.2 percent compared to 2012, reflecting an impressive performance that shall also pave the way towards achieving greater goals."



The results encouraged the board of directors at its meeting held on January 27, 2014 to recommend a distribution of a cash dividend of QR1.50 per share and to transfer to the legal reserves 20 percent of the 2013 net profit instead of 10 percent as specified in the Masraf Al Rayan's Articles of Associations.



Simultaneously, Masraf Al Rayan has shown a strong interest in continuing on its diversification course with the successful acquisition of the Islamic



Bank of Britain Plc and its solid resolve to meet all the requirements necessary to acquire a major stake in a commercial bank in Libya.



"Efforts will be made to convert the commercial bank in Libya into an Islamic bank very smoothly taking into account the current delicate state of affairs within the region while continuing in the Bank's quest to find more investment opportunities", added Dr Hussain



Adel Mustafawi, the Group CEO said once more Masraf Al Rayan's demonstrates its leadership standing in promoting Islamic finance in Qatar which is home to one of the World's fastest growing Islamic financial sectors.


 


The Peninsula




  MENA News Headlines
 Mar 1 2015 - Iraq predicts oil will rise to $64-65 per barrelAFP
(MENAFN - AFP) Iraqi Oil Minister Adel Abdel Mahdi said Sunday he expects the price of crude oil, which dropped to a six-year low in January, to continue recovering to reach $64 or $65 per barrel. ...

 Mar 1 2015 - Nbad- USD48t needed to meet global power demandMENAFN
(MENAFN) Energy demand in the Gulf to triple in the next fifteen years far outstripping today's supply, a report released by National Bank of Abu Dhabi (Nbad), Gulf News reported.It figures out that ...

 Mar 1 2015 - Bahrain, Russia to boost trade tiesMENAFN
(MENAFN) The Bahrain side of the Bahraini-Russian Joint Business Council held its first meeting, under the chairmanship of BCCI Chairman, Saudi Gazette reported.However, hailing the relations between ...

 Mar 1 2015 - Abu Dhabi's Eagle Hills plans new USD80b Egyptian cityMENAFN
(MENAFN) Abu Dhabi-based developer Eagle Hills is set to build a new city worth USD80 billion near Cairo, Arabian Business reported.The new city is set to include an airport, hotels, and a mall as ...

 Mar 1 2015 - S. Korean President Starts Mideast TourQatar News Agency
(MENAFN - QNA) South Korean President Park Geun-hye left for Kuwait on Sunday on a nine-day, four-nation trip to the Middle East expected to focus on wide-ranging economic cooperation beyond energy ...

 Mar 1 2015 - Car bombs kill27 in BaghdadArab News
(MENAFN - Arab News) BAGHDAD: Car bombs targeting a crowded market and Shiite militia checkpoints north of Iraq's capital killed 27 people Saturday authorities said as the country's prime minister ...

 Mar 1 2015 - Kuwait reopens Yemen embassy in AdenArab News
(MENAFN - Arab News) KUWAIT CITY: Kuwait decided to reopen its Yemeni embassy in Aden instead of the militia-controlled capital Sanaa.'In the framework of supporting constitutional legitimacy in ...

 Mar 1 2015 - Saudi- 3000 vacanciesto be availablein next episodeof 'Jobs on Air'Arab News
(MENAFN - Arab News) There will be 3000 job opportunities for unemployed young male and female Saudis as well as for foreigners during the tenth session of 'Jobs on Air' on Al Danah television ...

 Mar 1 2015 - Saudi- Al-Samaani: Judicial system impartialArab News
(MENAFN - Arab News) Saudi Arabia's justice system is based on the provisions of Islamic law derived from the Holy Qur'an and the Sunnah (tradition) of the Prophet (peace be upon him). This ensures ...

 Mar 1 2015 - Saudi- Many Madinah sites need better careArab News
(MENAFN - Arab News) Several residents in the city of Madinah have drawn attention of the competent authorities toward multiple Prophet's heritage sites and relics in the area including wells ...

more...


 






Google

Electronic & Mobile Payment

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help