The board of directors of Saudi Hollandi Bank (SHB) has extended an invitation to its shareholders for the bank’s extraordinary assembly general meeting (AGM) on Oct. 28 at 4 p.m. at the bank’s Al-Waha building on Al-Hassan bin Ali street in Riyadh and vote on the agenda, according to Tadawul website.

The agenda is as follows:

* Approve the issuance of sukuk in compliance with Shariah and Basel III requirements, with the amounts and terms set by the board of directors and without referring to the AGM of Shareholders in this matter.

* Authorize the board of directors to take all the necessary procedures to issue the sukuk after the approvals of the competent authorities have been received and empower the Board with full authority to delegate all or part of its authority to any person(s).

* Approve the audit committee charter as well as the board membership policy.

In accordance with Article 39 of the bank’s Articles of Association, the meeting will be valid if it is attended by shareholders representing at least two-thirds of the bank’s capital.