Shareholders of Safwa Islamic Bank
- Each Shareholder shall have the right to submit Suggestion or complaint to the Bank through the following means:
- Phone: (06 4602200) Ext (10507-10511)
- Direct attendance at the Bank’s Shareholders Relations Section
- Fax no (4647821).
- E-mail to receive complaints and firstname.lastname@example.org
- The shareholder have the right to submit any Suggestion to insert specific topics on the agenda of the general assembly meeting not later than the end of January of each year to enable the Board of Directors to study these suggestions and take the appropriate decision thereon.
- Shareholders who own at least 5% of the shares of the subscribed company have the right to add an item to the general assembly meeting of the company before it is finally sent to the shareholders, provided that the bank is provided with this item no later than the end of January of each year.
- All the shareholders’ suggestions or complaints shall be provided to the secretary of the Board of Directors to submit them to the board of directors and take the appropriate decision thereon.
- The suggestions and complaints received by the bank shall be treated with top confidentiality and transparency.
- The Bank is not obliged to receive or respond to any suggestion or complaint that is not submitted by a shareholder or does not include a means to communicate with the complainant or the proposal.
- This mechanism shall operate as of its date.
Nomination to the Board of Directors:
According to articles (22 / b) and (99 / b) of the Banking Law No. (28) of 2000 are gone As amended it and article 13 (c) of the Corporate Governance Directives of the Islamic Banks. In accordance with the Central Bank Circular No. 10/3/2503 dated 15/2/2018, all those wishing to run for membership of the Board of Directors of the Bank must have proof of non-objection by the Central Bank and the Bank shall obtain the non-objection of the Central Bank of Jordan to nominate them before the date of the meeting of the General Assembly of the shareholders of the Bank with sufficient period not less than two weeks, and the candidate shall have the following:
- The Chairman or member of the Board of Directors shall meet the following conditions:
- Not less than 25 years old
- He/she is not a member of the Board of Directors of another Bank within the Kingdom or is not its general manager or regional manager or employed by it unless such other Bank is a subsidiary.
- He/she is not a lawyer or legal counsel or auditor of the Bank.
- Holding the first university degree as minimum whether in economy or finance or accounting or business administration or any other similar discipline. The NRC may consider addition of other disciplines if coupled with bank-related business experience.
- He/she is not a government employee or any other public official institution unless he/she is its representative.
- He/she is not a member in the Board of directors of more than five public joint stock companies within the Kingdom in his/her personal capacity in some and representative of a legal person in the others.
- He has experience in the Bank business, finance or similar fields of no less than five years. He is familiar with the banking activities compliant with the Islamic provisions.
- Candidacy for an independent seat on the Board of Directors:
- The member was/is not an executive director in the Board during the three years preceding his election,
- The member was not employed by the Bank or by any of its subsidiaries during the last three years preceding his election.
- The member is not related to any of the other Board members, or to any member of the Board of directors of the Bank’s subsidiaries or to one of the major shareholders in the Bank in any kinship up to the second degree.
- The member has no relatives among the members of the top executive management of the Bank or any member of the top executive management of the Bank’s subsidiaries up to the second degree.
- The member is not a partner or employee of the external auditor of the Bank or was not a partner or employee during the three years preceding the date of his/her election as a member of the Board and he has no kinship with the partner in charge of the audit process up to the first degree.
- The member is not a major shareholder in the Bank or proxy of a major shareholder or an ally to a major shareholder in the Bank, or his/her contribution with the ally contribution would constitute an amount equal to a major shareholder’s share or a major shareholder in one of the Bank’s subsidiaries, Or a main shareholder in the Bank’s ownership group.
- The member has not assumed membership of the Bank’s Board of director or its subsidiaries or has not been a Board director for more than eight consecutive years.
- The member or any company in which he is a director of the Board or owner thereof or a major shareholder therein has not received a trust from the Bank in excess of 5% of the subscribed capital of the Bank and he/she is not a guarantor of a facilities from the Bank of value that exceeds that percentage.
- The member is highly qualified and experienced in financial and banking matters.
The Central Bank may object to the nomination of any person to the Board of Directors of the Bank if it finds that he does not fulfill any of the conditions specified in the instructions.