Muscat: ahlibank is pleased to announce the successful conclusion of its Annual General Meeting (AGM), held on Tuesday, March 25, 2025, via the electronic platform for general meetings hosted on Muscat Clearing and Depository’s (MCD) website. The meeting was chaired by Mr. Hamdan Ali Nasser Al Hinai, Chairman of the Board of Directors of ahlibank, and attended by esteemed board members, senior management, and shareholders.

During the AGM, shareholders reviewed and approved key agenda items, including the Board of Directors’ Report on the bank’s activities and financial position for the fiscal year ended December 31, 2024. The Corporate Governance Report and the Auditor’s Report on the Bank’s Audited Financial Statements were considered and approved, while the general assembly was notified of the Sharia Compliance Report of ahli islamic for the same period.

The shareholders approved a total dividend distribution of 10 Baiza per share, comprising 5 Baiza in cash and 5 Baiza in the form of free mandatory convertible bonds. Furthermore, the general assembly was informed of related party transactions and the bank’s contributions to community service initiatives.

Speaking on the occasion, Mr. Hamdan Ali Nasser Al Hinai, stated, "At ahlibank, our unwavering commitment to diversification and innovation drives us forward, enabling us to expand our services and leverage digital transformation to manage risk and seize emerging opportunities. Anchored by a robust financial foundation and stable capital structure, our future-focused approach and operational excellence enable us to turn challenges into growth opportunities, consistently delivering superior returns to our shareholders. The enduring confidence of our stakeholders reflects our agility in navigating an evolving financial landscape. At the core of our strategy are sustainable practices and customer-centric solutions, reinforcing our role as a trusted partner in fostering inclusive, long-term economic progress.”

A key highlight of the meeting was the election of three members to fill the vacant seats on the Board of Directors of the Bank. Shareholders also ratified the remuneration and sitting fees of the Sharia Supervisory Board for the financial year ended December 31, 2024, and approved its appointment. Additionally, the sitting fees paid to the Board of Directors and its sub-committees for 2024 were ratified, and the fees for the 2025 fiscal year were determined. The proposal to distribute remuneration to the Board of Directors for 2024 was also approved.

To uphold governance excellence, shareholders endorsed the Board’s performance report for 2024 and the appraisal criteria for 2025, appointing a third-party entity for an independent evaluation. The shareholders also approved the appointment of external auditors and Sharia auditors for the financial year ending December 31, 2025.

As part of its strategy, ahlibank remains committed to prioritizing customer needs, embracing digital transformation, and driving innovation. With a steadfast focus on financial inclusion and economic sustainability, the bank continues to play a vital role in supporting the Sultanate’s national growth and development.