aafaq - islamic finance held its Annual General Meeting for 2013 and agreed to distribute a 10% cash dividend.22 Apr ,2014
aafaq held its Annual General Meeting on the 22nd April at The Address Hotel, Dubai Marina. The meeting was attended by the Board of Directors, Ministry of Economy representatives, NBAD bank representatives (as stock registrars) and the Company’s Financial Auditor. The quorum met in the first session and the company’s 2013 financial statements were approved, with profits of AED 42.4 million. The General Assembly then decided and agreed to distribute 10% as cash dividends.
Mr. Matar Al Amri and Mr. Ebrahim Al Ansari were assigned as Board Members, replacing former members. As a result the Board of Directors has now become 100% Emirati nationals, with His Highness Sheikh Sultan Bin Muhammad Bin Khaled Al Nahyan as the Chairman.
H.H. Sheikh Faisal Bin Saud Al Qasimi, the Managing Director advised the meeting that the company had achieved tremendous success in the first quarter of 2014, even compared with the same period in 2013. The company is striving to be a pioneer of Islamic Finance institutions in the UAE, and is continuously adopting development schemes and expanding its innovative range of Sharia compliant products and services. The quality of these services meet the highest satisfaction of the companys’ strategic partners and clients, which in turn establishes long term value for its shareholders. The company owes it success to the effective role of His Highness Sheikh Sultan Bin Muhammad Bin Khaled Al Nahyan - Chairman and Mr. Abdul Jaleel Al Balooki – Deputy Chairman, along with all other Board Members, company executives and the operations team.