Karafarin Atieh Supply Institute holds General Assembly

Having submitted the annual report for the period ended 20 December 2020 the Managing Director of Karafarin Atieh Supply Institute in the Ordinary General Assembly of the shareholders, he suggested that the assets of this institute have increased.
The Ordinary Annual General Assembly of the shareholders of Karafarin Atieh Supply Institute was held online, in the presence of its board of trustees (Karafarin Bank’s board of directors), board of directors, as well as the independent auditor and legal inspector. This meeting was in session upon the selection of Dr. Mohammad Reza Farzin as chairman, Naser Sanati Nejad as first supervisor, Mehdi Seif Ali Shahi as the second supervisor and Mostafa Hesan (managing director) as secretary.
Stressing upon the principle of transparency Dr. Farzin commented: “The very philosophy of Karafarin Atieh Supply Institute is to enhance the welfare of employees and we shall endevour to this end.”
Having once again emphacised on the importance of transparency, he referred to the impacts of performance of the Bank and this institute on one another and stated that this institute has demonstrated a strong performance.
Mostafa Hesan reported on the one-year performance of this institute and its future plans. Having also claimed that the philosophy of this institute is to enhance the welfare of employees, to generate wealth for them and to manage their assets and to boost their sense of belonging and satisfaction, he commented and he stated: “Based in these principles, the shares of Karafarin Leasing Company have been purchased and measures to grant loans to buy the Bank’s rights issue have been taken, meetings have been held with directors of similar institutes and numerous other measures have been taken in order to meet the objectives of this institute."
He also pointed out that the considerable growth of assets, is mainly due to investing in the shares of the Bank and Karafarin Bank Leasing Company. “As a result of these investments, the assets of our colleagues have growth significantly and their returns have been high.”
Hesan also explained that this institute plans to: draft a strategic plan statement, purchase some of the shares of the Bank’s subsidiary companies which are about to be listed in the Tehran Stock Exchange, purchase an office, and to launch a pension fund.
He also reported that the policy of this institute for the forthcoming year is taking into consideration several factors such as diversification, market liquidity, establishing risk committees, enhancing sustainable investments upon investing. “We have taken several measures to manage risks.” he added.
The auditor and legal inspector then reported that the performance of the Institute to be favourable and the Board of Trustees subsequently approved the financial statements.
This general assembly selected Behmand Houshyar Audit Institute as its auditor and legal inspector for the 2021-22 period and the Etelaat Newspaper as its official gazette for one year.
Publish Date: Oct 3, 2021