The Extra-Ordinary General Assembly of Gulf Bank's Shareholders, at its 35th annual meeting held on Sunday 23/3/2014, approved the amendment of Article (2) of the Bank's Memorandum of Association and Article (2) of the Articles of Association regarding its objects, as follows:

Article (2) of the Memorandum and Articles of Association, prior to amendment:

"The object for which the company has been established is to conduct all commercial banking business commonly transacted by commercial banks. The company may undertake all necessary legal actions which may assist in achieving its objectives, in accordance with the attached Articles and the Companies Law."

Article (2) of the Memorandum and Articles of Association, after amendment:

"Company Objects":

1.  Conduct all banking and commercial banks business activities, dealing in shares, bonds, and securities, in all aspects of legal disposal, all other business activities which banks and financial institutions are allowed to transact by law.

2.  Accept cash deposits, pay against commercial papers or orders drawn on the bank by depositor with the amounts deposited to their account.

3.  Obtain funds by issuing lending bonds.

4.  Buy and sell gold bullions, foreign currencies, grant advances thereon, and buy and sell their assignments.

5.  Issue, purchase, re-issue assignments, bills, lending bonds, coupons, and all commercial and industrial bonds, and invest capitals.

6.  Lend, grant advances, credits and all bank facilities.

7.  Grant advances on bills of lading, transport notes, and fund delivery notes in Kuwait and abroad.

8.  Collect amounts of transfers, bills, commercial papers, bills of lading, and other notes, and issue secured or unsecured guarantees.

9.  Act as savings and family fund bank.

10.  Buy and sell securities for the Bank's own account.

11.  Take custody of assets constituting collective investment systems.

12.  Offer or sell securities to the favor of their issuers or their allies, or obtain securities from the issuers, or their allies, for the purpose of re-marketing the same.

13.  Customer/investment controller back-up custody services.

14.  Investment portfolio management.

15.  Take custody of all types of currencies, precious metals, and other properties, bonds, parcels, bundles, and leasing private metal safe deposit boxes.

16.  Purchase and import devices, fittings, and equipment necessary to implement the company's objects.

17.  Own movables and real estate properties necessary to proceed on its activity within the limits permitted by law.

18.  Utilize the financial surpluses available with the company by investing the same in financial portfolios managed by specialized companies and entities.

The company may practice the above activities in the State of Kuwait or abroad, originally or by agency. The company may also have interest in, or participate, in any manner, in the companies or institutions that run similar business activities or cooperate to achieve its objects in Kuwait or abroad, and to merge thereto, acquire or annex those entities, all in accordance with the provisions of the law and the enclosed Articles, as it is imperative to obtain CBK's prior approval. In case of merger, it is imperative to obtain a prior license from the Minister of Finance.