Press releases, Reports & Disclosures for United Arab Bank

Resolution No. 291 of 2024 temporarily suspends trading of United Arab Bank (UAB) shares on the Abu Dhabi Securities Exchange (ADX). This decision is due to the UAB's Annual General Meeting (AGM) scheduled for 11:00 on March 6, 2024, which coincides with the trading session at ADX. The suspension will last from 09:00 on March 6, 2024, until the ADX receives the AGM results. All department heads at ADX are required to implement this resolution, and it will be circulated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and all ADX-accredited brokers. The resolution was issued on February 14, 2024.

The United Arab Bank's Board of Directors has invited shareholders to a General Assembly meeting on 6th March 2024. The meeting will be held at the bank's head office in Sharjah or online at 11:00 a.m. The agenda includes approval of the bank's 2023 financial reports, Board of Director's reports, and the decision not to distribute dividends for the year 2023. The meeting will also consider remuneration for the Board of Directors, discharge or dismissal of board members and auditors, appointment of auditors for 2024, election of new board members, and renewal of the Internal Sharia Supervision Committee members.

The United Arab Bank (UAB) has announced that nominations for its Board of Directors are open from February 15, 2024, to February 25, 2024. Shareholders who meet the nomination conditions can apply for positions such as Executive Member, Non-Executive Member, or Independent Member. The bank is seeking to elect eleven members to the board. Candidates must comply with conditions set in Federal Law by Decree No. (32) of 2021 concerning Commercial Companies. The nomination period is ten days, in line with the Chairman of Authority’s Board of Directors’ Decision No. (3/R.M) of 2020.

The United Arab Bank (P.J.S.C.) has invited its shareholders to attend a General Assembly meeting on 6th March 2024. The meeting will discuss several key points, including the approval of the bank's activities report, financial position, balance sheet, and profit and loss account for the year ending 31st December 2023. The board's recommendation not to distribute dividends for 2023 will be considered, as well as the distribution of any remuneration to the board for the same year. Other items on the agenda include discharging or dismissing board members and auditors for their work in 2023, appointing auditors for 2024, electing board members for a 3-year term, and authorizing elected board members to compete in business with the bank. The Annual Report of the Internal Sharia Supervisory Board will also be reviewed.