Decree No. 51 of 1979 for the Establishment of a Qatari joint stock company in the name of ‘Doha Bank Limited’

Memorandum of Association of Doha Bank Limited a Qatari joint stock company

Article 1

The signatories hereto agree to form a group from amongst them the purpose of which shall be to establish a Qatari joint stock company under license from the Qatari government in accordance with the provisions of the applicable law and the articles of association attached to this memorandum.

 

Article 2

The name of this company shall be "Doha Bank Limited."

 

Article 3

The purpose of the company shall be to carry out for its account or for the account of others all business and banking services with the exception of trade in real estate, precious metals, jewelry and cargo insurance, in accordance with the established law and regulations established in accordance with the instructions issued by the Qatari Monetary Authority.

 

In order to achieve this purpose, taking into account the provisions of Law 7 of 1973 on the establishment of the Qatari Monetary Authority, the company shall do the following:

 

(a) Accept deposits and open current and term accounts, and provide discounting and credit services.

(b) Deal in stocks, bonds, notes, bills of exchange, money orders, bills of lading and other negotiable instruments or other commercial paper.

(c)  Subscribe to shares in companies.

(d) Foreign exchange and brokerage services.

(e) Facilitate import and export operations by opening letters of credit and settlement thereof.

(f) Acquire moveable items and dispose thereof.

(g) Guarantees, mortgages and pledges.

The company may have an interest in banking and financial institutions which may assist it to achieve its purpose whether in Qatar or abroad.

 

Article 4

 

The base of the company and its legal domicile shall be in the city of Doha.  The Board of Directors may establish branches, offices or agencies in Qatar or abroad.

 

Article 5

 

The specified term for this company is (25) years from the date of issuance of the decree licensing its establishment. Any extension of the term of the company shall be in terms of a resolution adopted by the Extraordinary General Assembly.

 

Article 6

The capital of the company has been fixed at 15,000,000 Riyals (fifteen million Qatari riyals) divided into 150,000 shares. The value of each share shall be 100 Qatari riyals.

 

Article 7 –

 

The founding members shall subscribe to the aforesaid capital in any of the approved banks as per the

following breakdown:

 

Value

No. of Shares

Name

300,000

3000

1 - Khalifa bin Abdullah Al-Ahmad Al-Thani

300,000

3000

2 - Nasser bin Abdullah Al-Ahmad Al-Thani

300,000

3000

3 - Ali bin Saud bin Abdul Aziz Al-Thani

300,000

3000

4 - Jabr bin Mohammed bin Jabr Al Thani

300,000

3000

5 - Abdul Rahman bin Mohammed bin Jabr Al Thani

300,000

3000

6 - Abdul Rahman Al Mana`i

300,000

3000

7 - Ali bin Naser Al-Atiyyah

300,000

3000

8 - Jabr bin Sultan Atwar

300,000

3000

9 - Abdullah Isa Al-Mirrikhi

300,000

3000

10 - Ahmed Abdal-Rahman Obaidan

 

 

The remaining 120 000 shares with a value of 12 000 000 Qatari riyals shall be be offered in the market at a nominal price of 100 riyals per share.

 

Article 8 –

The signatories hereto undertake to endeavor to procure the decree that grants the license and to carry out all the necessary actions to complete the establishment of the company. For this purpose they have authorized Sheikh Jabor bin Mohammed Al Thani, to carry out the promulgation, adopt legal procedures, collect the necessary documents, and make all amendments that the government deems necessary, whether to this memorandum of association or the attached articles of association.

 

Article 9 -

The expenses, costs and fees that the company has to pay due to incorporation are approximated as follows -30.000 Riyals including he expenses of printing, publishing and advertising etc.

 

The undersigned:

Nationality

Name

Qatari

1 - Khalifa bin Abdullah Al-Ahmad Al-Thani

Qatari

2 - Nasser bin Abdullah Al-Ahmad Al-Thani

Qatari

3 - Ali bin Saud bin Abdul Aziz Al-Thani

Qatari

4 - Jabr bin Mohammed bin Jabr Al Thani

Qatari

5 - Abdul Rahman bin Mohammed bin Jabr Al Thani

Qatari

6 - Abdul Rahman Al Mana`i

Qatari

7 - Ali bin Naser Al-Atiyyah

Qatari

8 - Jabr bin Sultan Atwar

Qatari

9 - Abdullah Isa Al-Mirrikhi

Qatari

10 - Ahmed Abdal-Rahman Obaidan

 

 

Have agreed on the following:

This Memorandum of Association has been executed in 11 copies, each party holding a copy thereof, and the last copy to be deposited with the Ministry of Finance & Petroleum in request of the necessary licensing.

This memorandum has been duly executed and signed on Saturday 3 Jumada al-Thaniya 1397 corresponding to 21 May 1977.

Signature

Name

 

1 - Khalifa bin Abdullah Al-Ahmad Al-Thani

 

2 - Nasser bin Abdullah Al-Ahmad Al-Thani

 

3 - Ali bin Saud bin Abdul Aziz Al-Thani

 

4 - Jabr bin Mohammed bin Jabr Al Thani

 

5 - Abdul Rahman bin Mohammed bin Jabr Al Thani

 

6 - Abdul Rahman Al Mana`i

 

7 - Ali bin Naser Al-Atiyyah

 

8 - Jabr bin Sultan Atwar

 

9 - Abdullah Isa Al-Mirrikhi

 

10 - Ahmed Abdal-Rahman Obaidan