INOVEST B.S.C. INOVEST B.S.C.
SHARI'A SUPERVISORY BOARD REPORT, REPORT OF THE BOARD OF DIRECTORS, INDEPENDENT AUDITORS' REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2022
Inovest B.S.C.
Administration and contact details as at 31 December 2022
Commercial registration number | 48848 obtained on 18 June 2002 |
Board of Directors | |
Mohammad Hamed Al-Shalfan | - Chairman |
Mohammad Salah Al-Ayoub | - Vice-Chairman |
Abdulaziz Asaad Al-Sanad | - Director |
Mohamed Abdulwahab Al Matook | - Director |
Abdullah Mohammed Al-Abduljader | - Director |
Dr. Abdulaziz Fahad Al Dakheel | - Director |
Ausama Abdulrahim Al-Khaja | - Director |
Chief Executive Officer | |
Yaser Hamad Al-Jar | |
Board Secretary | |
Riyadh Mahmood Mulla Ahmed | |
Sharia'a Supervisory Board | |
Sheikh Dr. Hamad Yusuf Al Mazrouie | - Chairman |
Sheikh Dr. Abdulrahman Mohammed Al Balool | -Vice Chairman |
Dr. Mohammed Abdulrahman Al Shurafa | - Member |
Nomination and Remuneration Committee members | |
Mohammed Abdulwahab Al Matook | - Chairman |
Abdullah Mohammed Al-Abduljader | - Vice-Chairman |
Mohammad Hamed Al-Shalfan | - Member |
Corporate Governance, Audit and Risk Committee members | |
Ausama Abdulrahim Al-Khaja | - Chairman |
Mohammad Salah Al-Ayoub | - Vice-Chairman |
Abdullah Mohammed Al-Abduljader | - Member |
Registered head office | 35th floor, East Tower |
Bahrain Financial Harbour | |
P.O. Box 18334 | |
Manama | |
Kingdom of Bahrain | |
Telephone no. +973 1715 5777 | |
Bankers | Bahrain Islamic Bank B.S.C. |
Ithmaar Bank B.S.C. | |
Kuwait Finance House (Bahrain) B.S.C. (c) | |
Kuwait Finance House (Kuwait) K.S.C.P. | |
Boubyan Bank (Kuwait) | |
Khaleeji Commercial Bank B.S.C. | |
Al Baraka Islamic Bank B.S.C. (c) | |
Al Salam Bank, Bahrain B.S.C. | |
Auditors | Ernst & Young - Middle East |
P.O. Box 140 | |
10th Floor, East Tower | |
Bahrain World Trade Center | |
Manama, Kingdom of Bahrain | |
Share registrars | Bahrain Clear |
Bahrain Financial Harbour, Harbour Gate, | |
Level 4, P.O.Box 3203 | |
Manama | |
Kingdom of Bahrain | |
Kuwait Clearing Company S.A.K. | |
P.O. Box 22077 | |
Safat 13081 | |
State of Kuwait |
In the name of Allah,The Beneficent,The Merciful
Sharia Supervisory Board Report on the activities of INOVEST Company B.S.C
For the Twelve Months Period Ended 31 December 2022.
All praise is due to Allah , Lord of the worlds, Prayers and Peace are upon the last messenger, our prophet Mohammed,his family and companions.
To the Shareholders of INOVEST B.S.C "the Company"，
Acting as Sharia Supervisory Board "SSB" pursuant to the appointment resolution passed by the General Assembly of the Company and SSB meeting on Monday 27th Feb. 2023 in State of Kuwait, we are required to provide the following report:
The SSB has reviewed the Company's principles, contracts related transactions, and applications submitted by the Company's management for the twelve months period ended 31 December 2022, and based on the Sharia auditor presentation of the Company's activities for the abovementioned period, and comparing it with the fatwa and rulings issued.
The Company's management is responsible for ensuring that the Company conducts its business in accordance with the Islamic Shari'a Rules and principles. It is our responsibility to form an independent opinion, based on our review of the Company's operations and to report to you.
We planned and performed our review so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the Company has not violated Islamic Shari rules and principles.
In our opinion:
The contracts and transactions concluded by the Company during the Twelve Months Period Ended 31 December 2022 that we have reviewed are in compliance with the Islamic Shari'a Rules and Principles.
Also, the SSB has approved the financial statements and concluded that it's prepared in an acceptable form from Islamic Sharia view. The respective report has been prepared based on the information provided by the Company.
Prayers and Peace are upon the last messenger, our prophet Mohammed, his family and companions.
Dr. Hamad Yusuf AlMazrouie
Chairman
Dr. Abdulrahman Mohamad Al-Baloul
Vice Chairman
Dr. Mohamad Abdulrahman AlShurafa
Member
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Inovest BSC published this content on 01 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2023 07:30:27 UTC.
