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Shareholders Rights

As per the Articles of Association of the bank, a Shareholder shall have the rights provided in Article 168 of the Commercial Companies Law No. 21 Year 2001, which stipulate the following:

Article (168): The shares shall confer equal rights and obligations. The member shall in particular have the following rights:

  1. Receiving profit dividends decided for the shareholders.
  2. Receiving a share of the company’s total property on liquidation. The company shall, when distributing dividends to the shareholders, distribute such dividends to the shareholder whose name is registered as the last owner of the share in the company’s register when the general assembly approves the financial statements and profit distribution. As regards the company’s assets, the last owner of the shares registered in the company’s register is the only one entitled to receive the money due for his share in such assets. 
  3. Participating in the company’s management, whether through the general assemblies and as a member of the board of directors, according to the company’s articles of association. 
  4. Obtaining a printed booklet comprising the company’s balance sheet for the past financial year, the profit and loss account and the reports of the board of directors and the auditor.
  5. Filing lawsuits to invalidate any resolution issued by the general assembly or by the board of directors in contravention of the law, the public order or the memorandum or the articles of association
  6. Disposing of the shares he owns and having a priority in subscribing for new shares in accordance with the provisions of the law. 
  7.  The right to examine the company’s records and to obtain copies thereof according to the conditions and procedures defined in the articles of association,  provided that the use thereof shall not prejudice the company’s interests or financial position or third parties.

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