- RIGHTS OF SHAREHOLDERS:
A Shareholder’s right in Al Baraka Banking Group B.S.C (ABG) is based on:
- The Bahrain Commercial Companies Law 2001 and its amendments.
- The Memorandum and Articles of Association of ABG.
- Central Bank of Bahrain Law and the Rulebook.
Accordingly, the shareholders have the following rights:
- To become members of the Company.
- To receive dividends, if declared.
- To receive proportionate part of the Company’s assets in case of liquidation.
- To receive information and copies of the company’s financials.
- To pursue legal action against the Directors, or to invalidate General Meetings Resolutions.
- To dispose of freely his/her shares and to have pre-emption rights for new shares.
- To peruse and inspect the records of the company and to receive copies and extracts from company’s books, provided that does not contradict the Articles of Association or cause detriment to the company.
- To appoint the Directors, the Shari’a Supervisory Board and the Company’s external auditors in the General Meeting.
- To attend and be represented in the General Meeting of the Shareholders.
- Duties of the Shareholders:
A shareholder have the following duties towards the Company:
- To pay any installments undertaken is to be paid by the shareholder on the due date with respect to his/her shares in the company.
- To pay all expenses in current by the company in collecting unpaid installments.
- To refrain from doing any harm to the Company.
- To respect, fulfill, and execute all legal resolutions of the General Meetings of the shareholders.