Dubai: Dubai Islamic Insurance & Reinsurance Company (Aman Insurance) said on Wednesday its general assembly has approved plans to increase the foreign ownership limit to 49 per cent, from the earlier 25 per cent.

The Dubai Financial Market (DFM) was asked to activate the new limit from October 16, the company said in a statement posted on DFM’s website.

Aman’s founding members consist of key investors including Dubai Islamic Bank. The company also includes numerous shareholders. The company aims to offer a comprehensive system of outstanding Islamic insurance services that support the stability and security of communities.