Proposed Amendment of the Memorandum of Association for the 2nd Extraordinary General Meeting of Shareholders (first draft)
Shabelle BankFirst draft of the proposed amendments to Shabelle Bank S.C.'s Memorandum of Association, published by the bank alongside the notice convening its 2nd Extraordinary General Meeting of Shareholders, held with the 4th Ordinary General Meeting on 28 December 2025. The document, prepared by MAP Law Firm LLP, proposes changes to align the MoA with the Banking Business Proclamation No. 1360/2025, NBE directives (including Corporate Governance Directive No. SBB/91/2024, Licensing Directive No. SBB/94/2025 and Directive No. FXD/01/2024) and the Capital Market Proclamation No. 1248/2021, covering the bank's objectives, a new article on limitations and prohibitions, shareholding limits, dematerialisation of shares and the share register, free transferability of shares, a board of nine directors, additional board powers over securities, and a new Article 44 on publication and announcement of the annual report and issuer disclosures to ECMA and the Ethiopian Securities Exchange. It recites that the bank was promoted from Shabelle Microfinance Institution S.C. under NBE Directive No. SBB/74/2020 and that its MoA was last amended on 26 June 2022 by the 1st Extraordinary General Meeting. This is the draft put to shareholders, not an adopted instrument; as of 10 September 2026 the bank has not published an adopted or final amended MoA. The document carries no signature date; the published date is the PDF's creation date, which matches the date it was posted on the bank's website.
- Institution
- Shabelle Bank
- Type
- regulatory-filing
- Fiscal year
- 2017EC
- Published
- Language
- English
- Pages
- 9
- File size
- 172 KB
- Source checked