During this meeting, the Board of Governors adopted several important resolutions, which can be summarized as follows: -
Approval of the Bank’s Statement of Financial position, revenues and expenditures for the fiscal year ending 31st December 2016.
Approval of the Board of Director’s Annual Report on the Bank’s activities for the year 2016.
Transfer of the net income made during the year 2016, which amounts to US $ 123.6 million, to BADEA's reserve.
Appointment of an External Auditor for the financial Year 2017.
Nomination of the Governor of the Kingdom of Saudi Arabia as Chairman of BADEA’s Board of Governors’ next meeting and the Governor of the Republic of Sudan, as his Deputy.
During the closing session, the Board of Governors expressed its deepest thanks and appreciation to His Majesty Mohamed VI, the King of Morocco, to Hon the Prime Minister and to H.E. Mr. Mohmed Boussaid, Minister of Economy and Finance for hosting the 42nd Annual Meeting and the welcome they bestowed on it.
The Board of Governors expressed also thanks and appreciations to the Chairman and Mmembers of the Board of Directors, to the Director General and the staff of BADEA for their continuous efforts to realize the objectives of the Bank, mainly supporting the Afro-Arab Cooperation.
It is worth-noting that the Joint-Annual Meetings of Arab Financial Institutions include, besides BADEA, the Arab Fund for Economic and Social Development, the Arab Investment & Export Credit Guarantee Corporation, the Arab Monetary Fund and the Arab Authority for Investment and Agricultural Development.
