Qatar Islamic Bank Declares Cash Profit Distribution
The Ordinary General Assembly of Qatar Islamic Bank has endorsed the Board of Directors’ proposal to disburse phased cash profits for the second half of 2024, amounting to 55% of the paid-up capital. Consequently, the total cash distributions for the year 2024 will reach 80% of the paid-up capital, translating to a substantial total of 1.89 billion Qatari riyals.
During the assembly, shareholders of the nation’s largest Islamic bank also ratified the Board of Directors’ report and the financial position for the fiscal year concluding on December 31, 2024. Additionally, they granted discharge to the Board members and approved the annual remuneration.
As of the end of 2024, the bank reported a 7% growth in profits, totaling 4.6 billion riyals. This increase was bolstered by a 9% rise in overall operational revenue, which amounted to 11.8 billion riyals.
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