QIIB shareholders approve 35% dividend; to increase members of the Board of Directors to 11 from 9

The ordinary general assembly of Qatar International Islamic Bank's (QIIB) shareholders, chaired by the bank Chairman Dr Sheikh Khalid bin Thani bin Abdullah Al Thani, approved all the 11 items figured in the agenda. These include the approval for the board of directors' decision to issue $2bn sukuk, election of two members to the Governing Council, and an annual dividend of 35 percent. The bank's total revenue in 2012 amounted to QR1.183bn while the net profit reached QR679m recording a growth rate of 4 percent on year-on-year basis. The issuance of the $2bn sukuk depends on international market conditions.