IslamicFinance.de

The total value of investment revenues of Arab Orient Takaful Insurance within the first quarter of the fiscal year 2014/2015 inched by 38% to EGP5.8 million in compared to EGP4.2 million within the same period of the previous year. Mohamed Akef, deputy executive director of financial and administrative affairs of the company explained that the allocated investment revenues reached EGP3.971 million at the end of September while the unallocated investment revenues were EGP1.821 million in the same period. The total value of premiums which attained by Arab Orient Takaful in the first quarter of the fiscal year of 2014/2015 reached EGP63.8 million in compared to EGP52 million in the same period of the previous year, he asserted.

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.