Islamic Financial Securities Company was established as a Qatari Private shareholding Company and registered in the Commercial Registration under No. 26337. The main activities of the Company are investing in shares and bonds, brokerage services in Qatar Exchange according to the Islamic Sharea’a. The Company works according to the Qatar Commercial Companies’ Law No. 5 of 2002 and Qatar Exchange Regulations.
The Board of Directors in its meeting held on September 22, 2006 decided to change the Company to a Qatari Public Shareholding Company which was approved by the Ministry of Economy and Trade on December 26, 2006. The Company shares were listed in Qatar Exchange on March 3, 2008.
The shareholders in their Board of Directors meeting held on December 28, 2008 and based on the General Assembly resolution held on August 22, 2010, decided to change the Company’s name and legal structure from Islamic Financial Securities Company (Qatari Public Shareholding Company) to Islamic Holding Group (Qatari Public Shareholding Company-Holding) (the “Company”). The change was made in accordance with the approvals of Qatar Financial Markets Authority and the approval of Ministry of Business and Trade on July 19, 2010.
These consolidated financial statements include the financial statements of the Group and its subsidiary company “Islamic Financial Securities Company” (hereinafter “the Group”). Islamic Financial Securities Company (the subsidiary company) was registered in the State of Qatar under Commercial Registration No. 46645 as a Single Person Company on July 19, 2010. It is fully owned by the Islamic Holding Group (Q.S.C.). The subsidiary company provides brokerage services.
The main activities of the Group is investing in shares and bonds, brokerage services through its subsidiary company, investing and managing subsidiary companies, ownership of patents and royalties.
During the year, the Group established a company under the name of Ajyad Real Estate Company (S.P.C) with a capital of QR. 5,000,000. The main activities of this company is Real Estate brokerage business. The Company did not commence any operations during the year.