QIIB raises the ceiling of sukuk


Yesterday, Qatar International Islamic Bank held its second ordinary general assembly meeting during the year 2023.. The meeting approved the items on the agenda for the assembly meeting as follows:
First – Approval of the Board of Directors’ recommendation to raise the ceiling of the bank’s sukuk issuance program, which was previously approved by the Ordinary General Assembly on 3/14/2023, to become $2 billion (instead of $1 billion), provided that the issuance takes place in different sizes based on a study of the bank’s need and after the issuance of the necessary approvals. To issue these sukuk from the competent authorities, provided that the sukuk issued do not exceed the bank’s capital base and reserves.
Second – Two additional members of the Board of Directors were elected from among the shareholders to complete the current period, which ends on 3/13/2026, bringing the number of members of the Board of Directors to 11, and the new members are: Messrs.
1- Al Taybeen Company for Trade and Services, represented by Mr. Dr. Ayed Debsan Ibrahim Al-Qahtani
2- Faseel Business and Real Estate Company
The approval of the Golden Ball Company is a reserve member.

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