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The Board of Directors of Al Firdous (P.J.S.C.) held a meeting on Tuesday, 13th August 2024, at 3:00 PM. The meeting covered the following points: 1. Periodic review of the tasks and functions performed by the Board of Directors and those delegated to Senior Executive Management. 2. Review of the executive and non-executive obligations as stated in Article 11 of the Board of Directors of SCA No. 7/R for the year 2016. 3. Periodic review of the responsibilities of the Board Chairman as stipulated in Article 42 of the Board of Directors of Securities and Commodities Authority No. 7/R for the year 2016. 4. Decision not to provide any remuneration to board members or the chairman for attending board meetings or committee meetings, as these meetings occur on the same date.
Al Firdous Holdings (P.J.S.C.) and its subsidiary in Dubai, United Arab Emirates, have released their interim condensed consolidated financial statements for the three months ending June 30, 2024. These statements are accompanied by a review report and are unaudited.
Al Salam Bank is participating in Youth City 2030 by hosting a training program aimed at young participants aged 9 to 14. The initiative focuses on enhancing financial literacy, budget management, and savings skills among youth. An employee from the bank will conduct the training, covering topics such as the bank's products and services, digital financial tools, and an overview of branch operations. The program also includes a segment on entrepreneurship and the banking industry. Mr. Mohammed Buhijji, Head of Retail Banking, expressed pride in contributing to the national initiative and emphasized the importance of educating youth on financial and business matters.
Al Salam Bank B.S.C. has announced that its Board of Directors approved the Interim Condensed Consolidated Financial Statements for the period ending June 30, 2024. This announcement was made to both the Bahrain Bourse and the Dubai Financial Market. The statement was signed by Ali Yusuf Al Khaja, the Head of Compliance and MLRO, and includes the company's seal.
The Chief Executive of the Abu Dhabi Securities Exchange (ADX) issued Resolution No. 474, ordering the suspension of trading for The National Investor PRJSC shares starting from August 15, 2024, until further notice. This decision is in accordance with Articles 10/11 and 38 of the ADX Listing and Disclosure Rules. All ADX departments are instructed to implement this resolution as per their respective functions, and the resolution will be communicated to the relevant company and brokers, becoming effective from the date of issuance, August 13, 2024. The resolution was signed by Abdulla Salem ALNuaimi, the Chief Executive Officer.
The letter, dated August 13, 2024, is addressed to the Disclosures & Compliance Section of the Abu Dhabi Securities Exchange and the Securities and Commodities Authority. It informs them about the approval of a capital reduction for The National Investor PrJSC from AED 285,000,000 to AED 235,000,000, with the AED 50,000,000 reduction amount being returned to shareholders. This decision was made during the company's general assembly on July 12, 2024. The company published a 30-day notice to creditors and received no objections. To complete the legal procedures and obtain approval from the Ministry of Economy, the company needs to amend the Effective Date to August 16, 2024, and the Payment Date to August 26, 2024. The letter is signed by Rami Hurieh, the Managing Director.