National Bank of Fujairah PJSC (NBF) appoints the Internal Shari’a Supervision Committee members for NBF Islamic and amends its Articles of Association
NBF held its General Assembly Meeting (GAM) today at Novotel Hotel, Fujairah, United Arab Emirates, where shareholders approved the appointment of the Internal Shari’a Supervision Committee members for NBF Islamic, the Islamic Banking Window of National Bank of Fujairah PJSC in line with the provisions stipulated by the UAE Central Bank.
The shareholders also approved amendment to the bank’s Articles of Association to allow convening of general assembly meetings of shareholders remotely through electronic channels and technologies.
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 the Internal Shari’a Supervision Committee members for NBF Islamic and amendment to the 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 the Internal Shari’a Supervision Committee members onto the Islamic Banking Window of National Bank of Fujairah PJSC and I am confident that they will play a pivotal role in the developing the business and progress of NBF Islamic.”
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 Shari’a 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 negative outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 15 (of which 1 is an electronic banking service unit) across the UAE.
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