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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 He has been replaced by Vice-Chairman Khamis Buharoon.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 | 401.00 | 0.00 (0.00 |
| FAB | 15.86 | 0.06 (0.37 |
| EMIRATESNBD | 22.60 | 0.70 (3.19 |
| ADCB | 12.30 | 0.10 (0.81 |
| ADIB | 19.10 | 0.18 (0.95 |
16/05/2025
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE
Trade Arabia
16/05/2025
Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.
The
Muscat Daily
16/05/2025
Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.
This stat
Gulf Times
16/05/2025
Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
16/05/2025
In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental
Kuwait Times
Financial Information Co.
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