Qatar First Bank LLC (Public) (“QFB” or the “Bank”) held its Extraordinary General Meeting (EGM) on Monday, 01 August 2022 and approved all agenda items.

The EGM, chaired by QFB’s Vice Chairman Mr. Mohammed Yousef Al Mana, was held virtually via Zoom. In attendance were members of QFB’s board of directors (the “Board”), shareholders, and the Bank’s senior management team.

The EGM ratified all agenda items, including the change of the name of the Bank to “Lesha Bank” and authorized the Chairman of the Board to take all necessary actions related to the Bank’s new name to make any necessary adjustments to the new name, logo, trademark, domain, website, or emails of the Bank, as well as the names of the Bank’s subsidiaries. The shareholders also authorized the Chairman of the Board to sign any agreements, applications, amendments, adjustments, authorizations, or any other documents required by any authority or private institution for the purpose of adopting the Bank’s new name, subsidiaries’ names, logo, trademark, domain, email modifications and website. 

Attendees at the EGM also discussed and approved, subject to obtaining all relevant regulatory approvals, the proposed changes to the Bank’s articles of association (“AOA”). The shareholders authorized the Chairman to sign the amended AOA of the Bank’s subsidiaries to reflect the new subsidiaries’ names and make necessary amendments if requested by the regulators as well as perform all acts required to register all of the amended AOA with the relevant authorities including, but not limited to the Qatar Financial Center (QFC) and the Qatar Financial Markets Authority (QFMA).

The EGM also authorized the Board to explore and enter new investment opportunities in the health sector or any other sectors resulting in potential acquisitions of shares in other companies through the Bank’s subsidiaries and approve any transactions in this sector or any other sector. Chairman is further authorized to amend the AOA of the Bank to reflect the above authorization as part of the powers granted to the Board in the AOA and make any necessary amendments if requested by the regulators and perform all acts for the purpose of the registration of the amended AOA with the relevant authorities including but not limited to QFC and the QFMA.

QFB Chairman H.E. Sheikh Faisal bin Thani Al Thani commented: “EGM has been concluded after successfully approving all items of the agenda including the decision to rebrand which will support the Bank’s future growth. Over the past years, QFB continued its way forward with the new business strategy, achieving remarkable results which boosted the Bank’s position in Qatar. QFB registered a turnaround financial performance, as well as a more diversified investment portfolio and stable income, leading the Bank to a profitable position during the critical shift to our new strategic direction.

Qatar First Bank LLC (Public) is the first independent Shari’a compliant bank authorized by the QFC Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange (QSE: QFBQ).