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The Chairman of Islamic insurer Abu Dhabi National Takaful Co. resigned on Tuesday
06/08/2014 01:11 AST
The Chairman of Islamic insurer Abu Dhabi National Takaful Co. (Takaful) resigned on Tuesday, according to a statement on the Abu Dhabi bourse.
No explanation was giving for Khadem Al Qubaisi's resignation. He has been replaced by Vice-Chairman Khamis Buharoon. Nasser M. Al Murr Al Za'abi has filled the vacated board seat, according to a separate statement on the bourse.
Last month, Takaful reported a nearly 25 per cent drop in second quarter net profits. The company made Dh15 million in net profits for the three months ending June 30 compared to Dh19.9 million in the same period last year.
Takaful could not be reached for comment on Tuesday, however, said last month the fall in net profits was largely due to the increase in net claims incurred in the motor line of business.
"This has resulted in an adverse impact on the profitability of our motor portfolio and also attributable to the prevailing intense competition on prices in respect of all lines of business," stated Osama Abdeen, chief executive officer.
Al Qubaisi was reported to have said that Takaful is in the process of obtaining an international financial rating.
Gulf News
20/11/2017
Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, has announced that its CFO, Farah Arakji, p
Press Release
08/08/2016
Abu Dhabi National Takaful Co. PSC (TAKAFUL), the leading Takaful operator in the region, announced its financial results for the period ended 30th June 2016.
The company announced a net p
Press Rlease
23/02/2015
Abu Dhabi National Takaful Company P.S.C, reported its financial results for the year ended 31 December 2014 with a net profit of AED 35.8 million.
Commenting on the results, Mr. Khamis Buha
CPI Financial
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| IHC | 401.70 | -0.30 (-0.08 |
| FAB | 13.90 | -0.14 (-1.00 |
| EMIRATESNBD | 20.15 | -0.30 (-1.47 |
| ADCB | 11.10 | -0.22 (-1.95 |
| EIB | 12.25 | 0.00 (0.00 |
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
24/04/2025
QNB has launched a new campaign, aimed at rewarding customers to use their QNB Mastercard debit cards for everyday purchases.
The campaign, taking place from April 24-June 24, will offer win
Gulf Times
Financial Information Co.
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