Lesha Bank holds its Annual and Extraordinary General Meeting
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).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
5 hours ago
- Zawya
CBUAE gold reserves rise 26% in January to May 2025
The Central Bank of the United Arab Emirates (CBUAE) increased its gold reserves by 25.899% during the first five months of the year to AED28.933 billion at the end of May, up from AED22.981 billion at the end of December 2024. According to the Central Bank's statistical bulletin issued today, the CBUAE's gold holdings rose by 0.49% month-on-month in May, to AED 28.791 billion at the end of April. Statistics showed that demand deposits also grew, exceeding AED1.166 trillion by the end of May, compared to AED1.109 trillion at the end of December 2024. Of this total, AED892.577 billion were in local currency and AED274.329 billion in foreign currencies. Savings deposits rose to AED359.57 billion at the end of May, up from AED317.48 billion at the end of December 2024. This included AED305.508 billion in local currency and AED54.062 billion in foreign currencies. Time deposits exceeded AED1billion for the firs time by the end of May, including AED614.854 billion in local currency and AED398.348 billion in foreign currencies.
Zawya
12 hours ago
- Zawya
Egypt: USD/EGP exchange rates hold steady on Tuesday
Arab Finance: The exchange rate between the EGP and USD recorded EGP 48.4 for buying and EGP 48.5 for selling at the National Bank of Egypt (NBE) as well as Banque Misr on Tuesday. Meanwhile, the USD hit EGP 48.41 for purchasing and EGP 48.51 for selling at the Commercial International Bank Egypt (CIB). The US dollar traded at EGP 48.40 for buying and EGP 48.50 for selling at the United Bank and Al Baraka Bank Egypt. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Economy ME
14 hours ago
- Economy ME
China maintains benchmark lending rates at 3 percent as economic momentum shows signs of weakness
China decided on Wednesday to keep its benchmark lending rates unchanged, continuing to hold the one-year loan prime rate (LPR) steady at 3.0 percent and the over-five-year LPR, which is used as the benchmark for many mortgage rates, at 3.5 percent. This decision aligns with market expectations and marks the third consecutive month that the People's Bank of China (PBoC) has maintained these record low rates without adjustment, China's state agency Xinhua reported. The LPRs serve as critical market-based benchmark lending rates in China, reflecting the financing costs faced by households and businesses. Maintaining these rates at current levels aims to ease the debt service burden on borrowers, potentially encouraging increased investment and consumer spending, which are vital for sustaining economic momentum. The decision to hold the rates steady comes amid recent economic data signaling that China's economy might be experiencing a loss of momentum. Industrial output grew at its slowest pace in eight months in July, and retail sales saw their weakest growth since December 2024. Moreover, the volume of new yuan loans fell for the first time in 20 years, underperforming analysts' expectations, despite broader credit growth showing some signs of improvement. These mixed signals suggest that while the economy is facing challenges, aggressive monetary policy adjustments such as further cuts to benchmark lending rates are not currently deemed necessary by policymakers. Read more: China maintains A+ credit rating from S&P Global as growth projections remain positive Cautious approach to economic recovery China's government and central bank have reiterated a commitment to a moderately loose monetary policy in 2025. This approach seeks to balance the need for economic support with risks related to inflation and financial stability. Instead of broad-based rate cuts, the central bank appears to favor targeted and structural measures to support specific sectors and address the economy's underlying challenges, including reducing industrial overcapacity and dealing with weaker domestic demand amid rising trade frictions, particularly with the U.S. The one-year LPR influences most corporate and household loans, while the five-year LPR is especially important for mortgage rates. By keeping these rates unchanged, the PBoC signals its cautious stance, aiming to support economic recovery while avoiding overheating or adding financial risks. Analysts suggest that although rate cuts could be employed as a tool for economic stimulus, the current view is that other structural and targeted policy measures may be more appropriate to foster sustainable growth. Uncertainty surrounding future easing China's economic resilience was demonstrated in the slower-than-expected deceleration during the second quarter of 2025, despite external pressures such as tariffs and the global trade environment. Nevertheless, domestic demand remains fragile, and deflationary pressures persist, with producer prices falling deeper into deflation in June 2025. These factors contribute to uncertainty about the timing and magnitude of any future easing by the central bank. Market watchers anticipate that the PBoC will continue closely monitoring economic conditions and may adjust its policy stance accordingly. However, expectations lean towards selective easing measures and fine-tuning of monetary policy rather than broad, aggressive rate cuts. This measured approach reflects both confidence in the economy's fundamental strength and caution in the face of external and domestic headwinds.
