IslamicFinance.de

National Takaful Company Watania has announced positive financial results in 2019, as the company's net profit increased to 13.1 million UAE dirhams, compared to 9.4 million dirhams in 2018. The company launched many new initiatives in 2019 to boost its overall performance, most of these initiatives focused on enhancing the levels of customer service. A new digital platform was launched that allows one of the fastest quotations and policy issuance system for motor business in the UAE market. The Company was among the first ones in UAE to subscribe to Blockchain technology to manage the motor claims recovery process. Chairman Dr. Ali Saeed Bin Harmal Al Dhaheri is confident that once the corona crisis is over and businesses start to get back to normal, Watania will be in a good position to seize the advantage.

National Takaful Company "Watania" was advised by Allen & Overy on its Initial Public Offering (IPO).
The date of the public launch was 18 April 2011 and corresponded 55% of the total share capital of Dhs150m.
Ibrahim Mubaydeen, managing partner of the Abu Dhabi office and Eyad Mahadeen, senior associate, were the ones that led the team.

Watania, the National Takaful Company, plans to launch next monday its initial public offering (IPO). The aim is to raise Dh82.5 million, that means 55 % of the share capital.
Anastasios Dalgiannakis, head of trading at Mubasher Financial Services, pointed out that IPOs of attractive assets are generally positive and helpful for the markets as they bring interesting investment opportunities.