A New Chapter Unfolds at Islamic Arab Insurance Co. as Board Member Steps Down
Islamic Arab Insurance Co., also known as Salama, has announced the resignation of one of its board members, Mr. Ajit Joshi. This development could potentially lead to a new era of leadership for the company.
Summary
Board member Ajit Joshi of Islamic Arab Insurance Co. (Salama) has resigned for personal reasons. The resignation was accepted by the board and communicated to the Dubai Financial Market. Despite this change, the company's future looks promising.
In a recent press release, Islamic Arab Insurance Co. (Salama) announced the resignation of Mr. Ajit Joshi, a member of the company's Board of Directors. Mr. Joshi expressed his wish to resign for personal reasons, and his resignation was accepted by the board. The news was conveyed by Khaled Barakat, the General Counsel of the company, to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market.
Salama, a public shareholding company registered in the Emirate of Dubai, United Arab Emirates, operates through various branches in the UAE. The company's primary business is the writing of all classes of general takaful and family takaful business, in accordance with Islamic Shari’a principles. Currently, the company has a market cap of 375,835,599.
Despite the recent resignation, the company's future looks optimistic. The change in the board could potentially lead to fresh perspectives and new leadership strategies, which could benefit the company in the long run. The company's financial performance has been relatively stable, with a minor decrease in 3 Month Yield (-0.33%) and 1 Month Yield (-0.23%).
Considering the company's stability and potential for growth, it might be a good time for investors to hold onto their shares or even consider buying more. However, as with any financial decision, potential investors should conduct thorough research and consider their own financial situation and risk tolerance before making a decision.
Source
Summary
On 11th March 2024, Mr. Ajit Joshi, a member of the Board of Directors of SALAMA - Public, expressed his wish to resign from the board for personal reasons. His resignation has been accepted by the board, appreciating his services during his tenure. The information was conveyed by Khaled Barakat, the General Counsel of the company, to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market.
