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
 Feb 1 2015 - HMG wins Excellence Prize for patient care from Arab HealthArab News
(MENAFN - Arab News) Dr. Sulaiman Al-Habib Medical Group (HMG) continues its noticeable attendance in the Arab Health Exhibition in Dubai this year as it has been rewarded with the Excellence Prize ...

 Feb 1 2015 - How to get a job done for 5 onlyArab News
(MENAFN - Arab News) It sounds like a crazy idea but you can actually get a brand new logo for your company or get 250 words translated or 1500 words proofread or your personal piano player for just ...

 Feb 1 2015 - Etihad Airways appoints first female Emirati airport managerArab News
(MENAFN - Arab News) Etihad Airways the national airline of the UAE has appointed Fatima Al-Kharousi as the first Emirati female airport manager. Based in Nagoya Japan she will be responsible for ...

 Feb 1 2015 - Saudi- Facebook beats forecasts with strong profit gainsArab News
(MENAFN - Arab News) SAN FRANCISCO: Facebook said that profit soared on the wings of mobile ad revenue but stressed it is more concerned with investing in the future than making quick cash.While ...

 Feb 1 2015 - Facebook beats forecasts with strong profit gainsArab News
(MENAFN - Arab News) SAN FRANCISCO: Facebook said that profit soared on the wings of mobile ad revenue but stressed it is more concerned with investing in the future than making quick cash.While ...

 Feb 1 2015 - Israeli occupation forces Arrest 10 Palestinian in West BankQatar News Agency
(MENAFN - QNA) Israeli occupation forces arrested since dawn today10 Palestinians in the West Bank amid heavy gunfire during incursions into the West Bank cities of Hebron, Bethlehem and ...

 Feb 1 2015 - 'Qatar Green Building Conference' to Take Place in Doha in AprilQatar News Agency
(MENAFN - QNA) Qatar Green Building Council (QGBC), a member of Qatar Foundation for Education, Science and Community Development (QF), has announced its upcoming inaugural annual conference. The ...

 Feb 1 2015 - Jordanian Government Condemns Execution of Japanese HostageQatar News Agency
(MENAFN - QNA) The Jordanian government strongly condemned on Sunday Daash killing of Japanese hostage journalist Kenji Goto. Jordanian Minister of Information Affairs and Government Spokesman Dr. ...

 Feb 1 2015 - Qatar Armed Forces General Command Issues Precautionary WarningQatar News Agency
(MENAFN - QNA) Qatar Armed Forces General Command forces has announced that the marine shooting range (O.B.D-28), located east of Mesaieed near Fasht Al-Hadid, will be active during the period from ...

 Feb 1 2015 - Qatar Computing Research Institute, Boeing to Host MLDAS 2015 in MarchQatar News Agency
(MENAFN - QNA) Building on the overwhelming success of last year's inaugural symposium, Qatar Computing Research Institute (QCRI) and Boeing are once again partnering to host the second edition of ...

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