Nayifat GA elects 9 members to BOD

Nayifat Finance Company announced on Monday the Results of the Extraordinary General Assembly Meeting (The First Meeting).
The Voting Results on the Items of the General Assembly’s Meeting Agenda’s:
1- Approval on the Board’s resolution to appoint Mr. Yousef Ibrahim Ibrahim AlShaer as a (Independent) Board member, starting from the date of his appointment on 27/06/2022 to complete the board term until the end of the current term on 24/09/202, succeeding the former Board member Mr. Abdul-Mohsen Abdul-Rahman AlSuwailem (Executive).
2- Approval on the election of the Board members from among the candidates for the next term, commencing from 25/09/2022, for a term of three years, ending on 24/09/2025. The members as Follow:
1. Mr. Abdulmohsen Mohammed Abdulrahman Al-Saleh – Non-Executive
2. Mr. Salman Abdulaziz Saad Shahween – Non-Executive
3. Mr. Bandar Mohammed Ahmed Al Baiz – Non-Executive
4. Mr. Saleh Nasser Suleiman Al Omair – Independent
5. Mr. Turki Nasser Hamad Saad AlQahtani – Executive
6. Mr. Ata Hamad Mohammed Al Bayouk – Non-Executive
7. Mr. Saad Abdulmohsen Abdulaziz Al-Humaidi – Independent
8. Mr. Yousef Ibrahim Ibrahim AlShaer – Independent
9. Mr. Mohammed Ali Mohammed Al-Hokal – Independent
3. Approval on the formation of the Audit Committee, and the definition of its duties, work regulations and remuneration of its members for the new term, commencing from 25/09/2022, for a term of three years, ending on 24/09/2025, the members of the Committee are:
1. Mr. Saad Abdulmohsen Abdulaziz Al-Humaidi
2. Mr. Fahad Sulaiman Abdulrahman Al-Nuhait
3. Mr. Aziz Mohammed Mubarak Al-Qahtani
4- Approval on the formation of the Sharia Committee for the new session starting from 25/09/2022 and ending on 24/09/2025 for three years, the members of the Committee are:
1. Shaikh. Abdullah bin Sulaiman Mohammed Al-Manea – Chairman
2. Dr. Mohammad bin Ali al-Quri bin Eid – Member
3. Dr. Abdulrahman bin Abdulaziz Saad Al-Nafisa – Member
5- Approval on the amendments on Article No. 3 relating to (Company purposes), of the Article of Association of Nayifat.
6- Approval on the business and contracts that will be concluded between Nayifat and Yaqeen (Falcom Financial Services), in which two board members Mr. Abdul-Mohsen Abdul-Rahman AlSuwailem(Former Member) and Mr. Bandar Mohammed AlBaiz have indirect interest in it (Related-Parties) for the year 2022, The transactions About (lease of the company’s headquarters in Falcom’s building, First Party Nayifat and second party Yaqeen “Falcom Financial Services”), Note that the transactions that took place during 2021 was SR 983,538 including VAT, without Any preferential conditions.
7- Approval on the business and contracts that will be concluded between Nayifat and Yaqeen (Falcom Financial Services), in which two board members Mr. Abdul-Mohsen Abdul-Rahman AlSuwailem(Former Member) and Mr. Bandar Mohammed AlBaiz have indirect interest in it (Related-Parties) for the year 2022, The transactions About (lease of the company’s Olaya branch in Falcom’s building “First Party Nayifat and second party Yaqeen “Falcom Financial Services”), Note that the transactions that took place during 2021 was SR227,010 including VAT, without Any preferential conditions.
8- Approval on the business and contracts that will be concluded between Nayifat and Yaqeen (Falcom Financial Services), in which two board members Mr. Abdul-Mohsen Abdul-Rahman AlSuwailem(Former Member) and Mr. Bandar Mohammed AlBaiz have indirect interest in it (Related-Parties) for the year 2022, The transactions About (lease of warehouse “First Party Yaqeen “Falcom Financial Services” and second party Nayifat), Note that the transactions that took place during 2021 was SR11,500 including VAT, without Any preferential conditions.
9- Approval on the business and contracts that will be concluded between Nayifat and Yaqeen (Falcom Financial Services), in which two board members Mr. Abdul-Mohsen Abdul-Rahman AlSuwailem (Former Member) and Mr. Bandar Mohammed AlBaiz have indirect interest in it (Related-Parties) for the year 2022, The transactions About (Portfolio Investment Manager), Note that the transactions that took place during 2021 was SR 3,070,000 including VAT, without Any preferential conditions.