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The Emirates Telecommunications Group Company (Etisalat Group) conducted its General Assembly Meeting on April 23, 2024. The discussion included agenda items published in daily newspapers on March 28, 2024, and relevant resolutions were passed. The assembly also elected four directors to occupy board seats designated for shareholders other than the Government Shareholder. These include Sheikh Ahmed Mohamed Sultan Al Dhahiri, Mr. Abdelmonem Bin Eisa Alserkal, Mr. Khalid Abdulwahid Alrustamani, and Mr. Otaiba Khalaf Ahmed Al Otaiba. All four directors are non-independent and non-executive members.

On April 23, 2024, Al Wathba National Insurance Company (PJSC) held a meeting chaired by Vice Chairman Mr. Rashed Darwish AlKetbi. The meeting, which took place at The St. Regis Dhabi and remotely, started at 12 PM and ended at 12.45 PM. The quorum was 87.44% of total attendance, including personal attendance, proxies, and electronic voting. The General Assembly approved decisions including the appointment of the meeting secretary and vote collector, approval of the Board of Directors' report and Auditors' report for the fiscal year ended on 31/12/2023, approval of the balance sheet and P&L accounts for the same period, the distribution of 25% cash dividends from the company’s capital amounting AED 51,750,000, and the proposed remuneration for the Board of Directors amounting AED 4.5 M.

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has reported its Q1 2024 results. The bank's balance sheet expanded by 4% year to date (YTD) to AED 327 billion. Total income increased by 27% year on year (YoY) to AED 5.6 billion, and net profit (pre-tax) was AED 1.85 billion, up 22% YoY. Asset quality improved, with net financing and sukuk investments reaching AED 277 billion, up 3% YTD. The bank also recorded a net operating profit of AED 2.15 billion, a 6.7% YoY increase. Customer deposits grew to AED 236 billion, up 6% YTD. Impairment charges were down by 40% YoY to AED 299 million. A settlement was reached between DIB and NMC Healthcare.

The document is a review report and condensed consolidated interim financial information for Dubai Islamic Bank P.J.S.C. for the three-month period ending on 31st March 2024. This report is of interest to those involved in finance and investing.

On 23rd April 2024, Amlak Finance PJSC announced a meeting to be held on Thursday, 25th April 2024, starting at 3:00 PM. The agenda of the meeting includes appointing a Chairman and Vice Chairman of the Board of Directors and forming Board Committees. The notice was signed by Lama Takieddin, the Head of Corporate Governance & Company Secretary.

The Board of Directors of the Dubai Islamic Bank held a meeting on 23 April 2024. During this meeting, they approved the Consolidated Financial Statements for the first quarter of 2024, ending on 31 March, which reported a net profit of AED 1,664.4 million. They also discussed normal business activities that do not affect the share price. The meeting was communicated to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, and Dr. Maryam Buti Al Suwaidi, the Chief Executive Officer of the Securities and Commodities Authority in Abu Dhabi.

On April 23, 2024, the Annual General Assembly Meeting of Amlak Finance PJSC took place. The shareholders approved several resolutions, including the Board of Directors’ Report on the company's activities and financial position for 2023, the Auditors’ Report for 2023, and the Internal Sharia Supervisory Committee Report for 2023. The Balance Sheet and Profit and Loss Account for 2023 were also approved, as well as the remuneration for the Board of Directors for the fiscal year ended 31/12/2023. The Board of Directors' recommendation not to distribute dividends to shareholders was endorsed. Lastly, the appointment of the Internal Sharia Supervisory Committee for the term 2024-2027, which includes Dr. Mohammad Abdul Rahim Sultan Al Olama, Dr Azzeddine Ben Zeghiba, and Sheikh Moosa Tariq Khoory, was approved.

BHM Capital, a prominent financial institution in the United Arab Emirates, has been granted approval by the Dubai Financial Market to implement the price stabilization mechanism for new stock listings. The retail chain, Spinneys, will be the first company to use this service after listing, following its 25% share public subscription offer from April 23 to 29. The mechanism allows newly listed or existing companies to appoint BHM Capital as their price stabilizer manager, which supports the stock price for a specific period after its trading debut. The CEO of BHM Capital, Abdel Hadi Al Sa’di, expressed his satisfaction with the approval and highlighted the mechanism's contribution to market transparency and stability.