Amwal International Investment Company will hold its Annual General Meeting (AGM) on Thursday, 11 May 2023, to discuss and approve the Board of Directors’ report and the external auditor’s report, in addition to the financial statement for the financial year ended 31 December 2022.

The AGM will review any penalties imposed on the company by the regulatory authorities, and transactions/agreements with related parties that took place in the financial year ended 31 December 2022, which include investment portfolio agreements with the parent company, and reviewing and approval transactions and agreements that will be concluded with related parties during 2023.

Moreover, the AGM will also discuss and approve the Board of Directors’ recommendation not to distribute profits for the financial year 2022, and approve the Board of Directors’ recommendation to pay KWD 30,000 in renumerations to board members for the financial year ended 31 December 2022, in addition to absolving board members from all matters related to their legal, financial, and administrative actions for the financial year ended 31 December 2022.

In addition to discussing the appointment or reappointment of the company’s auditor for the financial year ending 31 December 2023, and authorizing the Board of Directors to determine their fees.