Published: Sep 10, 2014
Source: MSM

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AL MADINA TAKAFUL Investment in National Takaful Company (Watania)

The Board of Directors of the Company on 10/9/2014 approved the decision to invest in the UAE Takaful sector and the Company has completed the purchase of 9.53% stake in National Takaful Company (Watania)at a price of AED 1.25 per share for a total consideration of AED 17,879,495 (equivalent to OMR 1,868,210). This is a strategic investment with MB Holdings. It will allow Al Madina to build synergies and have an access to the fast growing UAE Takaful market. This will add value to our shareholders and policyholders and have a positive impact on our income.

 

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