The Board of Shareholders of AAAID held its 34th annual meeting within the
annual meetings of Arab financial institutions, 7-8 April 2010, Khartoum,
Republic of the Sudan.
The Board issued a number of resolutions, the most important of which included
the following:
-
Election of H.E. the
representative of the Hashemite Kingdom of Jordan as chairman of the Board
for its 34th term (which begins as from the current meeting and ends by the
beginning of the 35th meeting), H.E. the representative of the Sultanate of
Oman as deputy chairman for the same term.
-
Approval of AAAID balance
sheet, the final accounts and reserves, as at 31.12.2009.
Allocation of AAAID net profit for the year 2009 to a number of items, some
of which are :
Distribution of dividends to AAAID shareholders equivalent to 3% of the
paid-up capital as at 31/12/2009.
10% of AAAID net income for the year 2009 to support the people of
Palestine.
Appointment of external auditors for the accounts of AAAID for the
financial year ending 31 December 2010.
-
Approval of AAAID investment
program for 2010-2011.
-
Expression of deepest thanks
and gratitude to His Excellency Field Marshal Omar Hassan Ahmed Al-Bashir,
President of the Republic of Sudan, and the Government and people of Sudan,
for the generosity which covered the 34th meeting of AAAID shareholders.
Expression of great thanks to His Excellency Dr. Mohammed El Nouri El Jouini,
the representative of the Republic of Tunisia for his efforts as a chairman
of the Board for its 33rd term.
Expression of thanks to H.E. AAAID President/ Chairman and Excellencies the
members of the Board of Directors, and AAAID staff, for their fruitful
efforts during the last year towards enabling AAAID to perform its duties.
H.E. Mr. Ali Bin Saeed Al-Sharhan,
President of AAAID, addressed the Board of Shareholders meeting, briefing the
Board on the performance of AAAID during the year 2009. The President speech
covered the various activities of AAAID during the year. It pointed out that
AAAID was able to overcome the negative impact of the international financial
crises in less than one year, and made profits amounting to over $40 million.
The total of AAAID shareholdings in companies amounted about $332 million,
equivalent to 95% of paid-up capital. Distributed dividends to AAAID member
states amounted $351 million, equivalent to 96% of AAAID paid-up capital.
Shareholders’ equity amounted to $565 million, equivalent to 161% of paid-up
capital. The President speech to the Board also gave broad-lines of
