The board of directors of Masraf Al Rayan met at 1:30.pm on Sunday, January 29th , 2012 and approved the financial statements for the bank for the financial year ending December 31st, 2011. Acheiving a net profit of QAR 1,408 Million at a growth rate of 16.3% compared to 2010 net profit.

Masraf Al Rayan board pointed to the financial statements for the bank for the fiscal year 2011 have been audited by an external auditor and reviewed by the Board of Directors, which is subject to the final approval of Qatar Central Bank. The detailed financial statements will be disclosed in compliance with the instructions of Qatar Exchange after Qatar Central Bank approval.

The Board of Directors discussed the dividends for the shareholders for the financial year 2011, and in accordance with its previous decision to pay the uncalled share capital from the Bank’s profits, the Board of Directors recommended cash distribution of QAR 50 Dirham per share which is added to the shareholders paid up capital at the end of June 2011 which is equivalent to QAR 60 Dirham per share. In view of this, the dividends paid will reach QAR 1.10 per share for 2011. The Board of Directors requested the passing of this recommendation to the Ordinary General Assembly for approval after obtaining the approvals required by the Qatar Central Bank and Ministry of Business and Commerce.

Dr. Hussain Ali Al Abdulla, "Chairman and Managing Director of Masraf Al Rayan" expressed his satisfaction with the results achieved, especially as these results were achieved under the fluctuations and crises experienced by the global financial markets and looks forward to achieving better results in the coming years.

In his comments, Mr. Adel Mustafawi "Group CEO – Masraf Al Rayan" stated that growths in all the elements of the financial statements were the result of the prudent policies developed by the Board of Directors, and the great efforts made by the team at Masraf Al Rayan, where Masraf Al Rayan growth in total assets reaching QAR 55,271 million, compared with QAR 34,683 million in December 31, 2010, a growth rate of 59.4%. Financing activities increased to a total of QAR 34,766 million, compared with 25,064 million as at the end of 2010, with a growth rate of 38.7%. Moreover, customer deposits have increased to QAR 46,264 million, compared with 27,017 million as 31st December 2010, with an increase of 71.2%.

The total shareholders' equity reached QAR 8,504 million, compared with 7,126 million, up by 13.3% compared to previous year, while book value per share of QAR 11.34 compared QAR 9.5 as 31st December 2010.

The Board of Directors invites Masraf Al Rayan’s shareholders to attend the Annual General Assembly Meeting, which will be held at 6:30.pm on Tuesday March 6, 2011 at Al Jiwan Hall of Dana Club – Doha Qatar. During the General Assembly Meeting, the Board of Directors will report on the activities of Masraf Al Rayan, its financial position and future plans. The Shari’a Supervisory Board report will also be heard, followed by a discussion on the financial position and income statements. This will be followed by approval of the recommendations of the Board with regard to appropriations and distribution of profits among others matters