Committee approves balance sheet and profit & loss account reports for Financial Year 2011-2012
Dubai Islamic Insurance and Reinsurance Company (AMAN Insurance), the largest Islamic Insurance provider in the UAE, held its Annual General Meeting yesterday (March 21, 2012) at the Godolphin Ballroom of the Emirates Towers. The meeting was chaired by Mohammed Bin Omair Bin Yousef Al Muhairi, Chairman, AMAN Insurance, under the presence of Hussein Mohammed Al Meeza, Managing Director and CEO. During the meeting, the committee present approved the reporting of the company’s balance sheet and profit & loss account reports for Financial Year 2011-2012 and also elected the board of directors for the ensuing terms. The newly elected board is composed of Mohammed Omair Al Mohairy, Salem Rashid Al Mohanadi, Hussein Mohammed Al Meeza, Saleh Abdullah Lotah, Yousef Ali fadel bin Fadel, Abdullah Ibrahim Al Dabous and two new members, Naser Falah Al Qahtani and Abdul Raheem Mohammed Al Zarouni.
The general meeting also covered the review of the reports submitted by the board of directors and the report of the Fatwa and Shari'a Supervisory Board on the company’s business for the same period. The meeting marked the end of the terms for FY 2011 of current board members and auditors. Aside from the election of new board members, the committee also appointed auditors for the Fiscal Year 2012-2013.
“I sincerely thank the members of the board of directors who have ended their terms of office for their commitment and dedication towards the pursuit of elevating and developing the company,” said Mohammed Bin Omair Al Muhairi. “I welcome the new members and reaffirm the company's eagerness to make utmost efforts to save the rights of shareholders and policyholders in light of the global economic situation and market conditions today that are affecting investment arms in many companies. We are confident that the insurance industry will experience more growth as reflected in the industry's posted value of AED 22 billion in 2011.”
“2011 was a very good year for us, demonstrated by both the vibrancy of the Middle East region’s Takaful insurance segment and the increasing demand for our key insurance products and solutions. Our Annual General Meeting is a strategic event for us to help discuss and evaluate the company’s performance over the last year and develop our strategies and initiatives for FY 2012. We thank the outgoing board members for their commitment and dedication in moving the company forward and we also welcome the newly elected board members. Rest assured, we will continue to remain steadfast in our continued promise of providing world class coverage of various insurance products and solutions for our customers coming from various industry verticals in the region,” concluded Hussein Al Meeza.
About AMAN Insurance
Dubai Islamic Insurance & Reinsurance Company (AMAN) was established in the second quarter of 2002 as a promising national public shareholders company, announcing the beginning of a new era in Islamic insurance in the UAE. AMAN’s founding members consist of key investors, which include Dubai Islamic Bank and The investment Office. The company aims to offer a comprehensive system of outstanding Islamic Insurance Services that support the stability and security of the UAE community. As a national Islamic company, Aman investment and insurance activities are conducted in accordance with Shariah guidelines under the supervision of the Fatwa and Shariah Supervisory Board whose members are specialists in Islamic economic and Shariah transactions.