Lesha Bank holds its Annual and Extraordinary General Meeting
Lesha Bank LLC (Public) (the 'Bank' or 'Lesha Bank') held its Annual and Extraordinary General Meeting (meeting') on Monday 24 February 2025 and approved all items listed on its agenda.
Chaired by Lesha Bank's Chairman, HE Sheikh Faisal bin Thani Al Thani, the meeting took place at The NED Doha, attended by Lesha Bank's Board members, shareholders, and senior management team.
The Annual General Meeting covered key agenda items, including the presentation of the Chairman's report for the financial year ending December 31, 2024, and the 2025 work plan. Additionally, several reports were presented and approved, such as the Shari'a Supervisory Board Report, Audited Financial Statement, External Auditor's Report, Corporate Governance Report (in compliance with QFMA Governance Code for Companies and Legal Entities listed on the Main Market), and Internal Control Over Financial Reporting (ICOFR).
Moreover, the meeting approved the Lesha Bank 2024 Annual Report and adopted the Board of Directors' recommendation to distribute cash dividends of QAR 0.05 per share, representing 5% of the nominal value. Major transactions were also approved, and the Board members were discharged from liabilities. Additionally, KPMG was appointed as the Bank's external auditor for the financial year 2025, with their fees duly approved.
During the meeting, seven Board members (four independent and three non-independent) were elected in accordance with applicable rules and regulations. Mr. Mohamed Yousef Al Mana, Mr. Meshaal Mohamed Al-Mahmoud, Eisa Mohamad Al-Mohannadi, Mr. Nasser Abdullah Al Misnad, Shaha Company for Investment and Real Estate W.L.L. represented by Mr. Hamad Ali Al Mannai, Azum Real Estate Investment Company represented by Mr. Mohammad Ali Al-Sulaiti, and Shift Company W.L.L. represented by Mr. Abdulrahman Totonji, were elected as new board members. The appointment of the remaining two Board members made by the Bank's Strategic Shareholders in accordance with article 34.2 of the Bank's Articles of Association was ratified during the Annual General Meeting: HE Sheikh Faisal bin Thani Al Thani appointed by Al Zubara Real Estate Investment Company W.L.L. and Mr. Nasser Ali Al Hajri appointed by Broog Trading Company W.L.L. They will serve until the end of the current Board term in February 2028. Following their election, the Board now consists of a total of 9 members.
The Bank's Extraordinary General Meeting endorsed proposed changes to the Articles of Association, pending regulatory approval, and authorized the Chairman of the Board to sign the approved amended Articles of Association and make any necessary amendments.
HE Sheikh Faisal bin Thani Al Thani, Chairman of Lesha Bank commented: 'The year 2024 reflects our unwavering commitment to strategic expansion, and value creation for our stakeholders. Our achievements stand as a testament to our ability to navigate a dynamic global financial landscape, emphasizing resilience and reinforcing our leadership in Shari'a-compliant investment banking. We remain dedicated to our forward-looking approach by aiming to enhance our wealth management offerings, diversifying our investment portfolio across all business segments, and strengthening our position as a dynamic, client-centric financial institution. I am pleased to work closely with the newly appointed Board, composed of experts in their respective fields, and look forward to guiding and leading Lesha Bank to greater heights.'
Lesha Bank LLC (Public) is the first independent Shari'a-compliant Bank authorized by the QFC Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange (QSE: QFBQ).
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