Doha – Mubasher: the extraordinary general meeting (EGM) of Qatar International Islamic Bank (QIIB) approved amending article 7 of the bank's bylaws.
"Shares shall be nominal and each share is indivisible in the face of the company, if a share is held by multiple persons, these persons have to choose someone to represent them in the use of the rights related to the share and these persons shall be jointly responsible for the liabilities arising from the ownership of the share," according to a bourse filing.
The bank noted that the ownership of any natural or legal person either directly or indirectly shall not exceed the 5%, with a maximum ownership of 10%, of the company's shares, except for the government.
The stock shed 0.65% to stand at QAR 61.6 by 10:30am Qatari time.
