National Bank of Fujairah PJSC (NBF) appoints a new Board Member and amends its Memorandum and Articles of Association
Shareholders approve measures, which were undertaken to comply with new commercial companies law in the UAE
NBF held its General Assembly Meeting (GAM) on 26 June at Novotel Hotel, Fujairah, United Arab Emirates, where shareholders approved the amendment of the bank’s Memorandum and Articles of Association in line with the provisions stipulated in the Federal Law No. (2) of year 2015 concerning Commercial Companies.
The shareholders also approved the appointment of Mr. Ahmed Saeed Al Raqbani onto the NBF Board of Directors. The number of board members for the bank has now increased from eight to nine as per the provisions of the same law.
His Highness Sheikh Saleh Bin Mohamed Bin Hamad Al Sharqi, Chairman said:
“NBF is committed to observing the highest ethical and corporate governance standards and international best practices while conducting its business. The appointment of a new Board Member and amendment of the Memorandum and Articles of Association will therefore ensure that the bank is fully aligned with the latest laws and governance practices crucial for its ongoing success. We are particularly pleased to welcome Mr. Ahmed Saeed Al Raqbani onto the bank’s Board of Directors and I am confident that he will play a pivotal part in taking the bank to greater heights.”
About National Bank of Fujairah PJSC:
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shariah compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.
NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1 / Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s and BBB+ / A-2 by Standard & Poor’s, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 15 across the UAE.
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