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Ex-Qatari Insurance Company CEO Ordered To Repay Illegal Bonuses Of More Than QR 247 Million | Qatar Local
Ex-Qatari Insurance Company CEO Ordered To Repay Illegal Bonuses Of More Than QR 247 Million
Category: Crime News
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A report by The Peninsula on 4 May 2024 mentioned that in a recent ruling, the Court of Appeal has ordered an ex-CEO of a Qatari insurance company to repay a total of QR 247,177,464 to the company's Treasury.

As per the report, this decision comes after the annulment of a previous decision, allowing for a 10% deduction from net profits as a bonus in his favour. After the initial disclosure on 31 January 2024 concerning a judicial decision, the Qatari insurance company released a further announcement regarding a new court ruling from the Court of Appeal.

As per the report, this ruling affirmed the invalidity of a prior decision to allocate a 10% deduction of net profits to the former CEO. The court ordered him to return the amount adding up to QR 247,177,464 to the company’s Treasury.

04 May, 2024 0 456
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