Kuwait Clearing Company, during its Extraordinary General Assembly held on May 26, 2025, approved an amendment to Article (27) of its Articles of Association, following the approval of the relevant regulatory authorities. The amended article now reads as follows:

“The company shall be managed by a Board of Directors consisting of six members, including independent members with experience and competence. The term of board membership shall be three years and may be renewed. If a new board cannot be elected within the designated timeframe, the existing board shall continue managing the company until the reason is resolved and a new board is elected.

The Board of Directors shall have full powers and broad authority to manage the company and carry out all actions required for its management and to achieve its objectives, subject only to the limitations stipulated by law, the Articles of Association, and the resolutions of the company’s General Assembly.

The Board may undertake sales, purchases, borrowing, pledging, issuing guarantees, making donations, settlements, acknowledgments in all forms, arbitration, taking oaths, and representing the company—through the Chairman—before the judiciary and arbitration bodies, as well as delegate others to perform any or all of the tasks.”