The Resolutions of the Ordinary General Assembly of the Shareholders

Posted on by rajubora
11 May

Statement of H.E. Chairman of the Board The General Assembly Meeting Held on May 10th, 2016

In the Name of God, Most Gracious, Most Merciful,
Dear Shareholders,
Ladies & Gentlemen,
Al Salamu Alaykum…

On behalf of myself and the members of the Board of Directors (BOD), I would like to thank you all on this occasion for attending this meeting. I would also like to extend my sincere thanks to the BOD and the Executive Management for the achievements accomplished during the year 2015 and first quarter of 2016 in the midst of fierce competition in the market and the challenges and difficulties faced by capital markets in the region.

There is no doubt that the substantial decline in oil prices in addition to the political turmoil in the Middle East has adversely affected all economic sectors including the banking sector and market liquidity. Therefore, many banks resorted to issuing debt bonds and instruments to overcome this problem. Despite these difficult circumstances, we were able to achieve good growth rates in most of the financial indicators as we have achieved a net profit of QR 1.4 billion by the end of 2015 and a net profit of QR 354 million by the end of first quarter of 2016. The return on average shareholders’ equity and the return on average assets reached 15.9% and 1.69% respectively as at the end of first quarter of 2016.

In this context and as can be seen from the items on the agenda for this meeting, the bank is planning to issue Certificates of Deposit (CDs) within a program of up to USD 3 billion and Commercial Papers (CPs) within another program of up to USD 2 billion as per the salient features specified under each program.

Due to the wise leadership of His Highness, Sheikh Tamim Bin Hamad Al-Thani, The Emir of Qatar, we trust that Qatar has all the tools and capabilities to launch many development projects in the coming years that will reflect positively on the performance of the banking industry in Qatar in general and Doha Bank in particular

Finally, on behalf of the Board of Directors and myself, I would like to extend my sincere thanks and gratitude to H.H. The Emir, Sheikh Tamim Bin Hamad Al-Thani, H.E. The Prime Minister, Sheikh Abdullah Bin Nasser Al-Thani, H.E. The Minister of Finance, Mr. Ali Sharif El-Emadi, H.E. The Minister of Economy & Commerce, Sheikh Ahmed Bin Jassim Bin Mohammad Al-Thani, and H.E. The QCB Governor, Sheikh Abdullah Bin Saoud Al-Thani, H.E. The Deputy QCB Governor, Sheikh Fahad Bin Faisal Al-Thani, and to all officials of Qatar Central Bank, the Ministry of Economy and Commerce, Qatar Financial Markets Authority and Qatar Exchange for their continued cooperation and support.

My thanks and appreciation are also extended to all the shareholders, customers for their confidence in the bank and to the Executive Management and all staff of the bank for their continuous cooperation and efforts which led to achieving impressive results for Doha Bank.

Al Salamu Alaykum…

Fahad Bin Mohammad Bin Jabor Al-Thani
Chairman

The Resolutions of the Ordinary General Assembly of the Shareholders

H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of Doha Bank, announced that the Ordinary General Assembly of the Shareholders in its meeting held on 10/5/2016 has unanimously agreed for Doha Bank to:

1. Issue Certificate of Deposits (CD) program whose main components would be as follows:

  • The Bank will issue Certificate of Deposits (CD) either through an SPV guaranteed by the Bank or directly by the Bank as part of its product suite.
  • The program size would be up to USD 3.0 Billion.
  • The total minimum amount per certificate will be USD 1.0 Million or equivalent and maximum USD 1.0 Billion or equivalent. 
  • The tenor and interest rates would be determined as per the market conditions.
  • The CDs can be issued to local as well as international investors.
  • The CDs can be issued in QAR or in various major currencies.
  • To authorize the Board of Directors of Doha Bank and those authorized by the Board to take all necessary actions to execute these issuances within the program after obtaining the approval of Qatar Central Bank, the Ministry of Economy and Commerce and any other competent authorities.
  • Delegation from Ordinary General Assembly of shareholders to the Board would be valid for 3 years.

2.To submit a recommendation to the Ordinary General Assembly of the Shareholders to approve issuance of Commercial Papers (CP) Program whose main components would be as follows:

  • The Bank can issue Commercial Papers (CP) either by an SPV guaranteed by Doha bank or directly by the Bank through a Euro Commercial Papers program.
  • The program size would be USD 2.0 Billion; where minimum amount per issuance would be USD 50.0 Million or equivalent and maximum would be USD 1.0 Billion or equivalent.
  • The CPs can be issued in QAR or in various major currencies.
  • The maximum tenor would be up to 1 year.
  • To authorize the Board of Directors of Doha Bank and those authorized by the Board to take all necessary actions to execute these issuances within the program after obtaining the approval of Qatar Central Bank, the Ministry of Economy and Commerce and any other competent authorities.
  • Delegation from Ordinary General Assembly of shareholders to the Board would be valid for 3 years.

H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani extended his sincere thanks and gratitude to the Board members and Executive Management for their efforts and achievements during the previous period and to the shareholders, representatives of the supervisory authorities in the State of Qatar and the auditors and wished them all the success and prosperity.

Fahad Bin Mohammad Bin Jabor Al-Thani
Chairman

Agenda of the General Meeting of Shareholders Held on 10/5/2016

1.To submit a recommendation to the Ordinary General Assembly of the Shareholders to approve issuance of Certificate of Deposits (CD) program whose main components would be as follows:

  • The Bank will issue Certificate of Deposits (CD) either through an SPV guaranteed by the Bank or directly by the Bank as part of its product suite.
  • The program size would be up to USD 3.0 Billion.
  • The total minimum amount per certificate will be USD 1.0 Million or equivalent and maximum USD 1.0 Billion or equivalent.
  • The tenor and interest rates would be determined as per the market conditions.
  • The CDs can be issued to local as well as international investors.
  • The CDs can be issued in QAR or in various major currencies.
  • To authorize the Board of Directors of Doha Bank and those authorized by the Board to take all necessary actions to execute these issuances within the program after obtaining the approval of Qatar Central Bank, the Ministry of Economy and Commerce and any other competent authorities.
  • Delegation from Ordinary General Assembly of shareholders to the Board would be valid for 3 years.

2.To submit a recommendation to the Ordinary General Assembly of the Shareholders to approve issuance of Commercial Papers (CP) Program whose main components would be as follows:

  • The Bank can issue Commercial Papers (CP) either by an SPV guaranteed by Doha bank or directly by the Bank through a Euro Commercial Papers program.
  • The program size would be USD 2.0 Billion; where minimum amount per issuance would be USD 50.0 Million or equivalent and maximum would be USD 1.0 Billion or equivalent.
  • The CPs can be issued in QAR or in various major currencies.
  • The maximum tenor would be up to 1 year.
  • To authorize the Board of Directors of Doha Bank and those authorized by the Board to take all necessary actions to execute these issuances within the program after obtaining the approval of Qatar Central Bank, the Ministry of Economy and Commerce and any other competent authorities.
  • Delegation from Ordinary General Assembly of shareholders to the Board would be valid for 3 years.