Dubai
The shareholders of Dubai Financial Market Company elected the new Board of Directors for a 3 years term including; Eisa Abdul Fattah Kazim, Rashid Hamad Al Shamsi, Mohammad Humaid Al Merri, Musabbah Mohammad Al Qaizi, Ali Rashid Al Mazrouei, Adil Abdullah Al Fahim and Moaza Saeed Al Merri.
DFM have approved the Balance Sheet and Income Statement for the financial year ending December 31, 2016, during the Annual General Meeting held on Monday, March 13.
DFM shareholders ratified the Board of Director’s report on the company’s performance and its financial position for the fiscal year ending 31 December 2016, the external auditor’s report and the Fatwa and Sharia Supervisory Board report.
The company posted a net profit of Dh253.5 million for the year 2016, compared to Dh261 million in 2015, a 3 per cent decline.
Additionally, the shareholders approved a special resolution enabling the company to execute deals with related parties, of no more than 30 per cent of the paid up capital without referring to the AGM.
