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.