Sharjah, UAE — Sharjah Islamic Bank has approved a cash dividend of 10 percent of the company’s capital, equivalent to AED323.5 million.
The bank’s AGM also approved the proposal to reward board members, adopted the appointment of auditors for the year 2024, and appointed Dr. Abdulrahman Abdullah Al Saadi as a member of the internal Sharia Supervisory Committee, in addition to a set of other decisions.
Abdul Rahman Al Owais, Chairman of the Board of Directors of Sharjah Islamic Bank (SIB), pointed out that this growing success confirms the effectiveness of the policies adopted by the bank, which have resulted in a strong financial performance and steady growth year after year.
Al Owais said SIB posted a net profit of AED851.5 million, an increase of 31 percent compared to AED650.9 million in 2022.
He added that net operating profits saw an increase of 29 percent to reach AED1.3 billion, compared to AED1.0 billion for the previous year.