IslamicFinance.de

The General Assembly of the Arab Orient Takaful Insurance Company approved to surge its capital to become EGP77.330 million, through pumping EGP12.330 million which started from April17 2014. Mohamed Akef, deputy executive director of financial and administrative affairs said that the Assembly decided financing the increase of cash distributions to shareholders, noting Arab Orient pumped EGP15 million at the end of the last year. The Extraordinary General Assembly agreed to move the company's main headquarters to El-Manial instead of Masr El Gedida (Heliopolis) starting next May, pointing out that the members, shareholders and representatives from the Egyptian Financial Supervisory Authority (EFSA) have attended the two assemblies.