Date: 23^rd March, 2022

RESOLUTIONS

Extraordinary General Meeting of the Shareholders of bank muscat held on Tuesday, 22^nd March, 2022:

1.    Approved the proposed amendments of the Articles of Association of the Bank.  The proposed amendments shall not, however, be effective and valid unless have been approved by the regulatory bodies.

Annual Ordinary General Meeting of the Shareholders of bank muscat held on Tuesday, 22^nd March, 2022:

1.       Considered and approved the Report of the Board of Directors for the financial year ended 31^st December, 2021.

2.       Considered and approved the Report on Corporate Governance for the financial year ended 31^st December, 2021.

3.       Considered the Auditor's Report and approved the Balance Sheet and Profit and Loss Accounts for the financial year ended 31^st December, 2021. 

4.       Considered the report of the Shari'a Supervisory Board of Meethaq, the Islamic Banking window, for the financial year ended 31^st December, 2021.

5.       Considered and approved the recommendation to distribute cash dividend of 30 Baiza for each share for the financial year ended 31^st December, 2021. 

6.       Considered and approved the recommendation to distribute stock dividend at the rate of (5%) per share of the issued share capital of the Bank (being 5 bonus shares for each 100 shares) for the financial year ended 31^st December, 2021.  The approval of the distribution of the bonus shares will result in the increase of the issued share capital of the Bank from (3,574,474,792) shares to (3,753,198,531) shares of a nominal value of (100) Baiza each.

7.       Considered and ratified the sitting fees for the Board of Directors and its committees' meetings for the financial year ended 31^st December, 2021 and fixing sitting fees for the current financial year.

8.       Considered and approved the Board of Directors' remuneration of RO. 300,000/- for the financial year ended 31^st December, 2021. 

9.       Considered and approved the appointment of Shari'a Supervisory Board of Meethaq, the Islamic banking window and fixing their sitting fees and remunerations:

10.     Approved the appointment of (E&Y) as the statutory auditors for the Bank and the external independent Sharia auditors for Meethaq, the Islamic banking window of the Bank, for the financial year ending 31^st December, 2022 and fixing their fees, subject to the applicable regulatory approvals.

11.     The annual ordinary general meeting of the shareholders of the Bank has by acclamation elected the Board of Directors for a new term of office (2022-2025), subject to the regulatory approvals. The names of the elected members of the Board of Directors are as follows: