AMAN records $30,374 net profit during first year of operations
Dubai Islamic Insurance and Reinsurance Company (AMAN) reported a net profit of 111,566 Emirati dirhams ($30,374) for 2003, the firm's year of operations.
AMAN announced that within nine months since the setting up of operations, the company had achieved an exceptional performance resulting in the shareholder equity rising from Dh 60 million to more than Dh67 million.
AMAN is licensed in Dubai by the Dubai Department of Economic Development to offer a range of insurance and re-insurance products, in compliance with the principles of Islamic Sharia. Dubai Islamic Bank and other Islamic-oriented promoters set up AMAN and hold 45 percent of its capital. Local investors hold the rest. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
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