Qatar Islamic Bank 24 December 2008

QIIK: Announces results of its EGM meeting held on 23 December 2008 Category: EGM, Rights Issue, General

Qatar Islamic Bank announces the results of its Extraordinary General Assembly (EGA) meeting held on 23 December 2008. The EGA has passed the following resolutions:

1. Postpone the discussion of the first item on the agenda to a later meeting pertaining to the cancellation of the Extraordinary Assembly meeting resolution held on 11 March 2008 to increase the capital by 10% through rights issue during the year 2009.

2. Increase the bank’s capital by 20%, or 39,382,200 new ordinary shares to be issued to Qatar Investment Authority through rights issue.

3. Amend Paragraph (3) of Article (22) of the bank’s Articles and Memorandum of Association concerning Board membership candidacy.

4. Amend Paragraph (2) of Article (9) of the bank’s Article and Memorandum of Association to allow a shareholder to own a maximum of 5% of the share capital and to allow Qatar Investment Authority to own a maximum of 20% of the bank’s capital.