The Dubai Financial Market (DFM) “PJSC” shareholders approved the Balance Sheet and Income Statement for the fiscal year ending December 31st 2011, during the Ordinary Annual General Meeting held today, April 15th 2012, and headed by Abdul Jalil Yousef Darwish, Chairman of the company.
DFM shareholders also ratified the Board of Director’s report on the company’s performance and its financial position for the fiscal year ending December 31st 2011, the external auditor’s report and the Sharia’a and Fatwa Supervisory Board report. The shareholders also appointed the External Auditors PricewaterhouseCoopers for the fiscal year 2012 and determined their professional fees, in addition to discharging members of the Board of Directors and the External Auditors from their liabilities for the fiscal year ending December 31st 2011.
According to the Sharia’a and Fatwa Supervisory Board report, the Zakat of shares’ for the year 2011 is AED 1.58 for every 1000 shares. The Board urged shareholders to hand out this Zakat as per their shareholdings. The Board also calculated the company’s Non-Sharia’a compliant revenue including similar revenue from NASDAQ Dubai. The total value of this revenue amounted to AED 9.48 million, equivalent to AED 1.19 for every 1000 shares. The Sharia’a and Fatwa Supervisory Board directed the DFM company to dedicate this amount to the charity purposes in line with the Board’s guidelines.
It is noteworthy that the Dubai Financial Market (PJSC) recorded a net profit of AED 8.9 million for the year 2011, compared to a net profit of AED 89.9 million in 2010, whilst the DFM Group (including its subsidiary NASDAQ Dubai) recorded a net loss of AED 6.9 million in 2011 compared to a net profit of AED 78.9 million in 2010. Total revenues reached to AED 176.5 million at the end of 2011, compared to AED 260.5 million in 2010.The total revenue comprised of AED 119.6 million operational revenues and AED 56.9 million of investment revenues and others.