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On April 7, 2025, the Annual General Meeting of Dubai Financial Market PJSC took place. The following resolutions were approved: the Board of Directors' Report on the company's activities and financial position for the fiscal year ending December 31, 2024; the Auditor's Report for the same fiscal year; the Fatwa and Sharia Supervisory Board's Report; the company's Balance Sheet and Profit and Loss Account; the appointment of Dr. Moosa Khoory, Dr. Abdullah Al-Tunaiji, and Dr. Maabed Al-Jarhi to the Fatwa and Sharia Supervisory Board for 2025; and the distribution of cash dividends amounting to 3.2% of the share capital, equivalent to 3.2 fils per share, for the fiscal year ending December 31, 2024.
United Foods Company (PJSC) invites its shareholders to attend a general assembly meeting on Monday, April 28, 2025, at 2:00 PM, either in person at their main office in Al Quoz, Dubai, or via a real-time visual communication app. The agenda includes reviewing and approving the directors' and auditors' reports, discussing the company's financial position and profit and loss statement for 2024, considering cash dividends totaling AED 30,250,000, discharging or dismissing directors and auditors, approving board members' remunerations, and appointing external auditors for 2025. Special resolutions involve transactions with clients Modern Bakery and UNIKAI. Shareholders can delegate representation, and specific dates are set for share ownership rights. If quorum is not met, a second meeting is scheduled for May 5, 2025. Shareholders are advised to update their contact details with the Dubai Financial Market for dividend distribution.
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Al Salam Bank has signed a Memorandum of Understanding with Eagle Hills Diyar to offer real estate financing solutions for clients interested in purchasing residential units in Marassi Bay, Marassi Terraces, and Palace Residences in Bahrain. The collaboration aims to enhance homeownership opportunities by providing competitive profit rates, a grace period of up to six months, and loyalty reward points. Clients will also receive a complimentary consultancy session for interior design. Mr. Anwar Murad of Al Salam Bank expressed the partnership's goal to provide innovative financing solutions, while Dr. Maher Al Shaer of Eagle Hills Diyar highlighted the strategic step in offering attractive financing options. This agreement aligns with Al Salam Bank's strategy to enhance its real estate financing offerings and support the housing sector.
The ordinary general assembly meeting of Ithmaar Holding B.S.C. took place on Wednesday, March 26, 2025, at 1:30 PM in the Noble Hall of the Westin City Centre Bahrain Hotel, located in the Seef District, Kingdom of Bahrain. Attendees included notable figures such as His Royal Highness Prince Amr bin Mohammed Al Faisal Al Saud, Mr. Juma Hassan Abo, Sheikh Dr. Osama Bahr, Mr. Maysan Faisal Al Muscati, Mr. Thaqib Mahmood Mustafa, Sheikh Dr. Adel Al Marzouqi, Ms. Fatima Abdullah Mufiz, Mr. Ali Ahmed Ali Mohammed, Mr. Mahesh Balasubramaniam, Mr. Hassan Jassim, Ms. Nouf Al Balushi, Mr. Hussein Mohammed, Ms. Zahra Al Mahfoodh, Ms. Rayan Ali, and Mr. Ahmed Salman, who is the Chairman of the Board of Directors. Additional participants included members of the Board of Directors, the Sharia Supervisory Board, the Chief Executive Officer, the Chief Financial Officer, the Head of Execution and Sharia Coordination, the Head of Legal Affairs, Compliance and Anti-Money Laundering, the Company Secretary, representatives from KPMG as external auditors, representatives from the Islamic Financial Institutions Supervision Directorate of the Central Bank of Bahrain, representatives from the Financial Markets Supervision Directorate of the Central Bank of Bahrain, and a representative from the Ministry of Industry and Commerce.
Salama, a regional insurer listed on the Dubai Financial Market, has appointed Mohamed Ali Bouabane as the new Group CEO. Bouabane, previously CEO of AIG GCC & North Africa, brings over two decades of experience in the insurance industry, having worked in Canada, Dubai, and Hong Kong. His expertise in risk management, digital transformation, and market expansion is expected to aid Salama's growth and digital innovation. Chairman Fahad AlQassim expressed confidence in Bouabane's ability to drive the company's success and enhance customer value. Bouabane, whose appointment is effective immediately, aims to lead Salama in delivering innovative insurance solutions and strengthening its market leadership. Salama is a leading provider of Shariah-compliant Takaful solutions, recognized for its customer-centric approach and diverse range of insurance products in the UAE, Egypt, and Algeria.
The Dubai Financial Market Company (PJSC) invites its shareholders to attend the Annual General Assembly Meeting (AGM) on April 7, 2025, at 3:00 pm, which will take place both virtually and physically at the Dubai World Trade Center. The agenda includes reviewing reports from the Board of Directors, Auditors, and Fatwa and Sharia Supervisory Board for the fiscal year ending December 31, 2024. Shareholders will discuss and approve the company's financial statements, dividend distribution of 3.2% per share, and the appointment of the Fatwa and Sharia Supervisory Board for 2025. Other agenda items include discharging liabilities of the Board and Auditors, appointing external Auditors for 2025, and approving related party transactions. Shareholders can register electronically and vote online. The meeting requires a quorum of at least 50% of the company's share capital. If the quorum is not met, a second meeting will be held on April 14, 2025. Shareholders are encouraged to update their contact details and review financial documents on the company's website.
GFH Financial Group B.S.C. announced that it has purchased 3,627,250 of its own treasury shares, increasing its total treasury shareholding from 173,924,950 shares (4.54% of total issued shares) to 177,552,200 shares (4.63% of total issued shares) as of April 6, 2025. The decision to purchase these shares was made during a board meeting on March 24, 2025, and received the necessary authority approval on February 16, 2025. The average purchase price was 0.2860 USD per share, representing 0.095% of the issued capital. There are 205,707,183 shares remaining for potential purchase. The announcement was made by Mariam Jowhary, Head of Compliance and AML.