Sharjah Islamic Bank shareholders approve 15% cash dividend for 2024

Gulf Today, Staff Reporter

Sharjah Islamic Bank (SIB) shareholders have approved a 15% cash dividend distribution of the company’s capital for the fiscal year 2024, amounting to Dhs 458.7 million.

The decision was announced during the Annual General Assembly Meeting (AGM), held on Sunday morning, presided over by  Abdul Rahman Al Owais, Chairman of the Board of Directors of Sharjah Islamic Bank. The meeting took place in person at the Sharjah Chamber of Commerce and Industry headquarters in Al Khan and was also conducted virtually.

The meeting was attended by members of the Board of Directors, executive management, internal committee representatives, auditors, the Securities and Commodities Authority, and the Sharjah Economic Development Department, along with SIB shareholders.

The AGM approved various agenda items, including the Board of Directors’ reports, the auditors’ report, and the Internal Shariah Supervision Committee’s report for the fiscal year ending December 31, 2024. Shareholders also renewed their confidence in the Board of Directors to continue leading the bank toward excellence and success. Additionally, the Assembly approved the appointment of two new board members and other key proposals.

Investing in FinTech, Digital Solutions, and Sustainable Partnerships  Abdul Rahman Al Owais extended his sincere gratitude to His Highness Dr Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, and to Sheikh Sultan Bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Executive Council, for their unwavering support of Sharjah’s economic development and their commitment to empowering SIB’s financial objectives. He also expressed appreciation to shareholders, customers, and partners for their trust and support, and commended the efforts of the Board of Directors, the Fatwa and Shariah Supervision Committee, executive management, and employees.

Highlighting the SIB’s strong performance in 2024, Al Owais emphasized that these achievements mark a significant step forward in SIB’s ambitious strategy, which focuses on digital transformation, revenue diversification, financial stability, and regional expansion, with a particular emphasis on sustainability and innovation in Islamic banking. He further noted that SIB continues to invest in financial technology (FinTech) and digital solutions, strengthen strategic partnerships, and support sustainable projects. The SIB remains committed to a customer-centric approach, offering advanced financial services that cater to evolving needs and enhance the banking experience.

These efforts align with the UAE leadership’s vision and reinforce SIB’s position as a key financial institution driving economic and social development in the UAE.