IslamicFinance.de

The CMA Board has issued its resolution approving Bank Albilad’s request to increase its capital from SAR 5,000,000,000 to SAR 6,000,000,000 through issuing one bonus share for every 5 existing shares owned by the shareholders. Such increase will be paid by transferring an amount of SAR 468,000,000 from the “Retained Earnings” account and SAR 532,000,000 from the “Statutory Reserve” account to the Bank’s capital. Consequently, the Bank’s outstanding shares are increased from 500,000,000 to 600,000,000. The bonus shares eligibility is limited to the shareholders who are registered in the shareholders registry at the close of trading on the day of the extraordinary general assembly.