The Investment Bank held its annual meeting at its headquarters in the Emirate of Sharjah on Monday. The meeting was chaired by Acting Idris Muhammad Al-Rafi, Vice Chairman of the bank’s Board of Directors, and was attended by the rest of the board members, shareholders, and executive management.
During the meeting, the General Assembly discussed and approved several items on the agenda. Firstly, the presentation of the Board of Directors’ report on the bank’s activity and financial position for the fiscal year ending on 12/31/2023 was presented. This was followed by an external auditor’s report for that same year. The Assembly also discussed and ratified discharging members of the Board of Directors and external auditors for that fiscal year.
Moreover, PwC Middle East was appointed as the bank’s external auditors for fiscal year 2024 unanimously. Ahmed Abu Eida, CEO of Investment Bank expressed satisfaction with progress made towards achieving strategic priorities. He highlighted a significant milestone achieved in 2023 when restructuring capital resulted in operating profits for first time in years.