UAE: Orient UNB Takaful now listed on Dubai Financial Market
Source: Middle East Insurance Review | Jul 2017
Orient UNB Takaful has officially listed its shares on the Dubai Financial Market (DFM) on 22 June, raising the total number of insurers listed on the bourse to 16, including six takaful operators.
According to a statement to the DFM, Orient UNB Takaful has listed two million shares with a face value of AED100 (US$27.20) each.
The new listing also further fortifies the prominent position of DFM as the most favoured listing venue for leading local and regional companies and lifts the total number of listed companies to 62.
“The listing of Orient UNB Takaful represents an important addition to the takaful sector on DFM. It also enables investors to benefit from the growth of one of the key drivers of the Islamic finance industry, which has enormous opportunities for expansion considering the growing demand for Shariah-compliant financial and insurance products as well as the considerable efforts to strengthen Dubai’s position as the capital of Islamic economy globally,” said Mr Hassan Al Serkal, Chief Operating Officer (COO) and Head of Operations Division of DFM.
Mr Omer Hassan Elamin, Board Member of Orient UNB Takaful and Group President of Orient Insurance, said: “The listing of Orient UNB Takaful on the DFM is a step towards achieving the company’s vision and objectives to provide and develop Islamic takaful products in a way that gives more choices to the clients and policyholders, and to take advantage of the trend to transform Dubai as a capital of the Islamic economy.” M
AED1 = US$0.27