The Ordinary General Meeting of GFH Financial Group B.S.C. was held on 30th September 2020 at 11:00am Kingdom of Bahrain time at Al Areen Palace and Spa with a quorum of 43.59%. The following items of the agenda have been approved:

  1. The minutes of the previous Annual General Meeting held on 6th April 2020.
  2. The agreements with Khaleeji Commercial Bank in accordance with Article (189) of the Bahraini Companies Law.
  3. Netting-off the accumulated losses by transferring an amount of USD 110,273,000 from the statuary reserve, subject to any regulatory approvals.
  4. The corporate governance report for the financial year ending December 31, 2019 after adding a section related to the remuneration strategy.
  5. The appointment of Mr. Ali Murad and Mr. Ahmed Al-Ahmadi as appointed members of the Group’s board of directors.
  6. Electing the bank’s Board of Directors for the next three years, consisting of ten seats, subject to the approval of the Central Bank of Bahrain, and the following members have been elected:
    • Mr. Jassim Al Seddiqi
    • Ms. Alia Al Falasi
    • Sh. Ahmed Al Khalifa
    • Mr. Hisham Alrayes
    • Mr. Rashid Al Kaabi
    • Mr. Ghazi Al Hajeri
    • Mr. Mustafa Kheriba
    • Mr. Ahmed Abdulhamid Al Ahmadi
    • Mr. Ali Murad
    • Mr. Fawaz Al Tamimi
  7. Authorized the Board to take the appropriate decision regarding the continuation of listing the Group’s shares on Boursa Kuwait or delisting and transferring the shares to Bahrain Bourse.