Salama Appoints Mohamed Ali Bouabane as Group CEO

In a strategic move poised to usher in a new era of growth and innovation, Islamic Arab Insurance Company, commonly known as Salama, has announced the appointment of Mohamed Ali Bouabane as its new Group Chief Executive Officer. This development marks a significant step for Salama, one of the world's largest and most established Shariah-compliant Takaful solutions providers, as it seeks to expand its footprint and enhance its digital capabilities.

Bouabane, a seasoned veteran in the insurance industry, brings with him a wealth of experience garnered over two decades across Canada, Dubai, and Hong Kong. His previous role as CEO of AIG GCC & North Africa saw him leading strategic transformations and strengthening market positions, skills that will be instrumental in steering Salama's trajectory in the competitive Middle Eastern and African markets.

His Excellency Fahad AlQassim, Chairman of Salama, expressed confidence in Bouabane's ability to drive the company's continued success, emphasizing his deep industry knowledge and proven leadership capabilities. Bouabane himself expressed enthusiasm for the role, highlighting his commitment to delivering innovative insurance solutions and enhancing customer experience.

Salama's decision to appoint Bouabane aligns with its broader strategy to solidify its position as a leading provider of Takaful insurance solutions. The company, which has been a pioneer in the Takaful industry since its incorporation in 1979, has consistently maintained a customer-centric approach, ensuring that its range of family, motor, general, and health Takaful solutions meet the evolving demands of its diverse clientele.

With a paid-up capital of AED 939 million and a robust presence in UAE, Egypt, and Algeria, Salama's commitment to Shariah-compliant practices and innovative solutions has earned it numerous industry accolades. The appointment of Bouabane is expected to further enhance Salama's market leadership, leveraging his expertise in risk management, digital transformation, and market expansion.

For investors, this executive appointment may signal a promising phase of growth and innovation for Salama, potentially leading to enhanced shareholder value. Given the company's strategic positioning and Bouabane's track record, the outlook appears optimistic. Therefore, for those currently holding Salama shares, it may be prudent to hold onto them as the company embarks on this transformative journey.