Amar Finance and Leasing Company's Board of Directors Meeting was held on Wednesday 29th December 2021 at 1:00 PM where the Board approved the appointment of Mr. Mohammad Abdullah Al-Saad as company CEO effective March 01, 2022
Amar Finance & Leasing Company Board of Directors will hold its meeting on Wednesday 29th December 2021 at 1:00 pm to consider executive management appointments.
Further to our previous disclosure dated December 06th ,2021 regarding lawsuit No. 10232/2017, and the court decision to acquit the defendant, a court judgment was passed in lawsuit 1521/2021 not to accept the appeal as it was filed after the set date. Accordingly, this case ended in favor of the defendant
Further to our previous disclosure dated September 16th ,2020 regarding lawsuit No. 10232/2017, the Court decided on 12/5/2021 to withhold Case No. 1521/2021 Misdemeanors / Appeal / 6 for judgment during the session to be held on 12/12/2021
Amar Finance and Leasing Company's Board of Directors Meeting was held on Wednesday 01 December 2021 at 1:00 PM where the following was done:
- Discussing and approving Budget and Strategy for the year 2022.
- Mr. Hamad Mohammed Al-Saad submitted his resignation from his position as company CEO effective from the end of Monday, February 28, 2022 for personal reasons, The Board of Directors has approved the resignation request.
Amar Finance & Leasing Company Board of Directors will hold its meeting on Wednesday 01 December 2021 at 1:00 pm to discuss and approve the Budget & Strategy for the year 2022 .
Amar Finance and Leasing Company's Board of Directors Meeting was held on Wednesday 03 November 2021 at 1:00 pm. The Board approved the financial statements for the period ended 30 September 2021.
The Board of Directors of Amar Finance & Leasing Company will hold its meeting on Wednesday 03 November 2021 at 1:00 pm to discuss and approve its interim financial statement for the third quarter ended 30/09/2021.
Kindly note that the capital shares distribution for Lulu Al Wattan Real Estate Company, one of the subsidiaries of Amar Finance and Leasing Company, has been amended, with the exit of a partner representing 1% of the company’s capital. Accordingly, Lulu Al Wattan Real Estate Company becomes 100% owned by Amar Finance and Leasing Company.
The effect of this exit shall be an increase in Amar Finance and Leasing Company’s ownership in Lulu Al Wattan Real Estate Company’s capital by 1%
Further to our previous disclosure dated June 09, 2021, regarding lawsuit No. 16402/2019, commercial, related to lawsuit No. 538,537/2015, civil cassation/3, which obligated Amar Finance and Leasing Company to pay an amount of KD 350,000, being judicial fees and expenses.
Kindly note that the request to suspend the sentence has been accepted and the said amount has been modified to KD 91,000.
The company will refund (KD 259,000) being the amount difference from the provision formed, and hence the impact will appear on the financial statements for the third quarter of 2021.
The job titles of the following employees have been changed effective from 30/08/2021:
Amar Board of Directors (BOD) meeting no. 05/2021 was held today Wednesday, August 04, 2021 at 1:00 PM, where BOD discussed and approved the financial statement for the second quarter of 2021.
Amar Finance & Leasing Company Board of Directors will hold its meeting on Wednesday, August 04, 2021 at 1:00 PM to discuss and approve the financial statement for the second quarter of 2021.
Amar finance and leasing company has appointed Mr. Nawaf Ali Jaloud as Sharia Audit Officer.
Amar Board of Directors (BOD) meeting no. 04/2021 was held today Wednesday, June 30, 2021 at 1:00 PM, where BOD approved updated internal policies and procedures.
Amar Finance & Leasing Company Board of Directors will hold its meeting on Wednesday, June 30, 2021 at 1:00 PM to discuss and approve updated internal policies and procedures.
A defaulting Islamic finance customer has paid KD 341,000, being the value of the entire indebtedness in addition to profits. This will be reflected in the financial statements for the second quarter of 2021 by refunding KD 276,000 being the provision for the Islamic finance principal.
The Court of Appeals issued a verdict in Case No. 4859/2020- commercial obligating Amar Finance and Leasing Company to pay the amount of KD 350,000, which represents judicial fees and expenses.
Amar Board of Directors (BOD) meeting no. 03/2021 was held today Monday, May 03, 2021 at 1:30 PM, where the Board approved the financial statements for the period ended March 31, 2021
The Board of Directors of Amar Finance & Leasing Company will hold its meeting on Monday, May 03, 2021 at 1:30 pm, to discuss and approve its financial statement for the period ending on March 31, 2021.
The Ordinary General Assembly Meeting of Amar Finance and Leasing Company was held today, Monday, March 29th, 2021 at 10:30 am at Al-Ahlia Insurance Company meeting room, 2nd Floor, Ahmed Al Jaber Street, Sharq Area, Kuwait City. All agenda articles were approved during the meeting.
The services of Mr. Abdulrahman Muhammad Al-Belkasi - Sharia Audit Officer at Amar will end at the end of the working day of Thursday, June 18th, 2021
The annual general assembly meeting for Amar Finance and Leasing Company (AGM) has been set for the Monday, 29th March 2021, at 10:30 am at Ahlia Insurance Company meeting room, 2nd floor, Ahmed Al Jaber Street, Sharq Area, Kuwait City.
Amar Board of Directors (BOD) meeting no. 02/2021 was held today Monday, March 01, 2021 at 1:00 PM, where the Board approved the financial statements for the period ended December 31, 2020 and approved calling for the ordinary General Assembly meeting.
The Board of Directors of Amar Finance & Leasing Company will hold its meeting on Monday 01 March 2021 at 1:00 pm in the company's meeting room, to discuss and approve its financial statement for the period ending on December 31, 2020.
The ownership of the property located in Kuwait City - Al Qibla region, has been transferred from Amar Finance and Leasing Company to Rayhan Real Estate Company (a subsidiary fully owned by Amar Finance and Leasing Company)
Amar Board of Directors (BOD) meeting no. 01/2021 was held today Monday, February 01, 2021 at 1:00 PM, where BOD approved to renew CMA security activity license.
Amar Finance & Leasing Company Board of Directors will hold its meeting on Monday, February 01, 2021 at 1:00 PM to discuss the renewal of CMA securities activity license
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