Bank Albilad shareholders to vote on board remuneration policy Jan. 9

Bank Albilad shareholders will vote on the policies of board membership as well as the remuneration for board members and top executives, during the ordinary general assembly meeting scheduled for January 9.

Shareholders will also vote on the updated regulations for the audit, nominations and remunerations committees, the bank said in a bourse statement on Wednesday. 

The general assembly will vote on allowing board director Fahad Al-Qasim to take part in some activities, which are likely to compete with the bank’s business.

Al-Qasim is a board member in the state-run Saudi Post, which owns a 50 percent stake in Ersal Money Transfer which competes with Bank Albilad’s remittance unit Enjaz, the statement added.