Tawuniya shareholders approve amending bylaws

The Company for Cooperative Insurance’s (Tawuniya) shareholders approved amending bylaws and list of governance during the extraordinary general meeting held on May 3, according to a bourse filing.

Shareholders approved bylaws related to the company’s objective, companies’ ownership and partnership, investment, shares trading, capital hike, management, board of directors’ term, board powers, remunerations, Zakat and reserve.

They also approved audited financial statements, as well as audit and board reports for the fiscal year 2019. They approved discharging board members from liabilities for the same period.

Meanwhile, shareholders approved all other items on the meeting’s agenda including appointing an external auditor, board remuneration and related party transactions.