Up to 55% of Takaful shares offered to UAE and GCC nationals

Dubai: Mohamed Musabbeh Al Neaimi, chairman of Takaful House, announced that Takaful House has joined Securities and Commodities Authority as the Minister of Economy made a Public Joint Stock Company after its registration certificate. Takaful House will be listed on August 4.

Al Neaimi disclosed a capital of Dh100 million, with 55 per cent of company shares offered to UAE and GCC nationals.

He also said that the board of directors obtained a prior approval from the constitutive general assembly that expatriates residing in the country will be allowed to own 25 per cent of the company shares.

Takaful House, headquartered in Dubai, will shortly open branches in all emirates.