Qatar launches electronic platform for holding listed companies’ annual general assembly

Qatar has launched an electronic platform for arranging the annual general assembly of the listed companies as part of efforts to effectively enhance shareholder participation.This initiative is a result of the collaboration between Edaa and the Ministry of Commerce and Industry (MoCI). In this regard, the MoCI organised a seminar, which was attended by representatives from shareholding companies and audit offices.The digital platform aims at facilitating electronic voting for shareholders on presented agenda items during general assemblies.It ensures immediate access to voting results and the final general assembly report, with the aim of offering flexibility to shareholders and their representatives, facilitating access to general assemblies of shareholding entities and streamlining the voting process on agenda items.The digital platform seeks to emphasise the significance of shareholders' roles in fully and effectively practising their voting rights during annual general assembly meetings through the convenience of remote meetings, ultimately enhancing shareholder participation."The introduction of digital platform, through collaboration between Edaa and the MoCI, for conducting remote general assemblies, would significantly contribute to streamlining the establishment, management, and organization of general assemblies, facilitating remote voting and decision-making processes," said Salem bin Salem al-Mannai, Director of the Corporate Affairs Department at the MoCI.This initiative aligns with the ministry's efforts to facilitate investment and commercial activities in the country by removing barriers for investors, safeguarding them from unfair practices.It aims to enhance the development and organisation of the commercial companies’ sector, offering comprehensive support and improving the regulatory environment through the development of tools that help companies achieve the highest level of compliance with the law."This initiative supports the ministry's digital transformation efforts in line with the goals of the Qatar National Vision 2030," he said.Sheikha Jawaher bint Mohamed al-Thani, Head of Control and Inspection Department at MoCI, presented introductory videos about the digital platform, highlighting the ministry's efforts to introduce this system to the public, which is aimed at enhancing the management and organisation of general assembly meetings for companies.Emphasising the programme's role in achieving the highest standards in the field of corporate governance, she underscored the "significance in streamlining" the work of investors and shareholders, thus improving the operations of shareholding companies and contributing to the overall economic development in the country.Sheikh Saif bin Abdullah al-Thani, chief executive officer of Edaa, said this signifies a crucial advancement in the path towards the digital transformation of corporate governance."This step highlights our dedication to encouraging a more efficient and transparent business environment, in line with our national vision of adopting digital solutions for a smarter future," he said.Sheikh Saif said embracing the electronic annual general assemblies is pivotal for improving shareholder participation as it ensures adherence to the standards of regulations and laws, and the highest levels of security and transparency.Moreover, presentations were conducted to familiarise listed shareholding companies with the mechanism and process of utilising the new platform for submitting requests to hold general assemblies to the ministry electronically. Furthermore, shareholders were introduced to the steps for registering to attend general assembly meetings and other services offered by the platform.