OREANDA-NEWS. Masraf Al Rayan announces the results of the Extra-ordinary General Assembly Meetings held on Sunday, 8th of March 2015 Al Dasha Ballroom –Sharq Village & Spa the following decisions have been taken:

1.The Extra-Ordinary General Assembly of Masraf Al Rayan approved adding the following paragraph to the list (The Qatari Founders) in the Memorandum of Association as follows:

(Qatari Diar for Real Estate Investment PSC was replaced by “Qatar Holding” to take all of its responsibilities and rights).

2-A The Extra-Ordinary General Assembly of Masraf Al Rayan approved amendment of Article No. 4 (Objects of the Bank) of the Articles of Association of Masraf Al Rayan by adding new two objects to the objects which Masraf Al Rayan undertakes for example and without limitation, be the following:

Firstly: Banking Activities:

12- Dealing in Islamic Financial Derivatives.

Secondly: Financing and Investment Banking Activities:

15- To own, lease and rent Real Estate and Properties.

2-B The Extra-Ordinary General Assembly of Masraf Al Rayan approved amendment of Article No. 23 (Constitution of the Board of Directors) of the Articles of Association of Masraf Al Rayan by replacing the name of Qatari Diar for Real Estate Investment PSC with “ Qatar Holding” to read as follows:

“ The Bank shall be administrated by a Board consisting of nine (9) members, of whom seven (7) shall be elected by the General Meeting by secret ballot, and each of “ Qatar Holding” and the" Qatari General Retirement and Social Insurance Authority" shall appoint one member.

1.The Extra-Ordinary General Assembly of Masraf Al Rayan Authorized the Board of Directors to implement the addition to and modifications of both Memorandum of Association and the Articles of Associations of Masraf Al Rayan.