Wednesday 7 June 2023

The OGM in progress

BisB OGM allocates $33.35m net for 2022 under various heads

MANAMA, March 21, 2023

The Ordinary General Meeting (OGM) of the Bahrain Islamic Bank (BisB) approved the bank’s board recommendation to allocate the net profit of BD12.57 million ($33.35 million) for 2022 to various heads. 
The OGM approved allocation of BD170,286 to the bank’s Zakat fund and BD250,000 for charitable donations and authorised the bank’s Board of Directors to distribute them, transferring BD1.26 million to the statutory reserve, and transferring BD10.89 million to the retained earnings.
The meeting agenda further covered the approval of a payable amount of BD273,906 as remuneration to the Board of Directors for the 2022 financial year. The meeting also approved the reappointment of KPMG as external auditors for the year 2023 and the Board of Directors was authorised to determine their fees.-- TradeArabia News Service


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