Dubai: Dubai Islamic Insurance and Reinsurance Company, Aman, yesterday concluded its third annual general meeting (AGM), which was held at the Dubai Chamber of Commerce and Industry.
At the AGM, shareholders approved distribution of 15 per cent cash dividend and 15 per cent bonus shares to the shareholders. In a landmark decision, for the first time in its short history of three years, the Islamic insurer also announced distribution of 2 per cent profits to its policyholders.
A new board was elected to include Sultan Saeed Al Mansouri, Mohammad Ali Al Abbar, Mohammad Al Hashimi, Hussain Al Meza, Mohsen Bin Omair Bin Yousuf, Saleh Saeed Lootah and Abdullah Ebrahim Al Dabous.
"In line with the company's plans to expand its branches in the UAE, we opened operations in Sharjah with a dedicated branch, making it the second branch outside Dubai after the opening of Abu Dhabi branch last year. The expansion reflects the need to span out in order to better service the increasing demand for Islamic Insurance within the country," said Sultan Saeed Al Mansoori, Minister of Government Sector Development and Aman Chairman.
Aman recorded net profit of Dh82 million for the financial year ended last December 31, up by 865 per cent compared to Dh8.5 million for the year ended December 31, 2004.
