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11/01/2015 08:13 AST
Al Madina Takaful Co announced on Thursday the Wakala fees and Mudharaba percentage for the fiscal year ending December 31, 2015.
The company operating as the Wakeel of the policyholders fund proposed to charge Wakala fee on the net revenue of the company. The aggregate Wakala fee for the year 2015 shall be 20 per cent of the gross written contribution for all contributors' in general takaful funds and family takaful funds, the company said in its filing to Muscat Securities Market.
Regarding Mudharaba percentage, Al Madina Takaful operating as the Mudharib of the policyholders fund will charge a Mudarib fee of 70 per cent of the net profits generated from the investment of the policyholders fund.
Muscat Daily
22/01/2018
Al Madina Takaful, Oman's first Takaful insurance provider, announced the appointment of Usama Al Barwani as chief executive officer (CEO) of Al Madina Takaful at the board meeting.
Al Bar
Times of Oman
10/02/2015
Dr Mohammed Al Barwani, Chairman, Al Madina Insurance Co. unveiled the inaugural issue at a ceremony. The quarterly newsletter, promises to serve as a communication and listening platform for the com
Oman Daily Observer
16/09/2014
Al MadinaTakaful has launched Al Madina Motor Prestige, a unique car insurance scheme exclusively for premium and luxurious cars yesterday. Motor Prestige promises not only to be a motor insurance co
Oman Daily Observer
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10/10/2025
As part of its continuous preparations for the highly anticipated Gulf Bank 642 Marathon, scheduled to take place on November 29, Gulf Bank has proudly announced the launch of the second edition of t
Kuwait Times
10/10/2025
The Saudi Water Partnership Company (SWPC) has announced that Alkhorayef Water and Power Technologies, a leading player in the kingdom's utility sector, has emerged as the preferred bidder for the Sm
Trade Arabia
10/10/2025
Saudi Aramco completed the acquisition of an additional 22.5 percent stake in Rabigh Refining and Petrochemical Co., known as Petro Rabigh, from Japan's Sumitomo Chemical Corp. for $702 million.
Arab News
09/10/2025
Once again, Boubyan Bank reinforces its global, regional and domestic digital banking leadership after being recognized with 4 prestigious awards from Global Finance, as part of its annual awards giv
Kuwait Times
09/10/2025
Guided by its philosophy that sees human capital investment as the foundation of sustainable growth, National Bank of Kuwait successfully concluded its 2025 training program for university students,
Kuwait Times
Financial Information Co.
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