Al Ahlia Insurance shareholders withhold some approvals for FY17

Shareholders of Al Ahlia for Cooperative Insurance Co. on Wednesday refused to discharge the company’s board members from liability for their activities during the fiscal years 2016 and 2017 and did not approve the annual board remuneration for 2017, the company said in a bourse statement.

At the general assembly meeting, shareholders also refused to approve related party transactions to take place during the upcoming year.

They also disapproved amending board members’ remuneration policy and refrained from approving financial statements for the fiscal year 2016.

However, shareholders approved the board’s annual report, audited financial statements and audit report for 2017, the statement added.

All other items on the agenda were also approved.