*** BisB holds OGM, approves BD 420,286 for Zakat and Charitable Donations | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

BisB holds OGM, approves BD 420,286 for Zakat and Charitable Donations

TDT | Manama                                        

The Daily Tribune – www.newsofbahrain.com   

The Ordinary General Meeting of Bahrain Islamic Bank (BisB) yesterday approved recommendations to allocate BD 170,286 to the Bank’s Zakat fund and BD 250,000 for charitable donations.

Shareholders also authorised the Bank’s Board of Directors to distribute them during the meeting chaired by Dr Esam Abdulla Fakhro, Chairman of BisB at Al Dana Hall (3), Gulf Hotel.

The meeting further approved transferring 1,256,740 to the statutory reserve and transferring BD 10,890,370 to the retained earnings.

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The bank’s net profit for the year ended on 31st December 2022 was BD 12,567,396.

In addition, shareholders approved BD 273,906 as remuneration to the Board of Directors for 2022, and the discussion of the Bank’s Corporate Governance report for the same year.

KPMG was reappointed as external auditors for the year 2023 and the Board of Directors was authorized to determine their fees.