(MENAFN - Khaleej Times) Mohammed Musabbeh Al Neaimi, chairman of Takaful House, announced that Takaful House has joined the Securities and Commodities Authority as a Public Joint Stock Company after its registration certificate was made by the Minister of Economy. Takaful House would be listed on August 4.
Al Neaimi said that the capital of the company would be Dh100 million.
55 per cent of the company shares were offered to UAE nationals and GCCC nationals and the board of directors have obtained a prior approval from the constitutive general assembly that expatriates residing in the country would be allowed to own 25 per cent of the company's shares.
Al Neaimi said that according to this certificate the shareholders register was transferred into the electronic systems of Dubai Financial Market as of the issue of this certificate and that Takaful House headquartered in Dubai would shortly open branches in all emirates.
Al Neaimi said that those interested in the company shares, whether they are investors with an investor number at Dubai Financial Market, or those interested in the transfer of their shares or in the obtaining of an investor number, are to refer to the website of Dubai Financial Market as of the above date, in order to know how to trade in Takaful House shares in accordance with applicable procedures.
Alternatively, they are encouraged to refer to securities market management or any broker licensed to trade in the market.
Al Neaimi said that Takaful House will update shareholders interested in the trading of its shares through local newspapers with details about listing the company at Dubai Financial Market, in addition to a full report of the balance sheet including assets and equities, a report about the legal status and accounting policies as per international standards.
Takaful House will contribute to the development of Islamic Takaful (insurance) industry with regard to all kinds of insurance risks which will be positively reflected on the investment process and its stability as well as the economic growth, he added.