Beema General Assembly Meeting approves 10% dividend

March 10, 2021

Doha: Damaan Islamic Insurance Company (Beema) held yesterday General Assembly Meeting which was chaired by company’s Charman, Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani.

The Board of Directors of approved dividend of 10 percent of the nominal share value. Addressing the shareholders, Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani said that last year was a real test for Beema Company and its ability to overcome the challenges posed by the outbreak of coronavirus pandemic.

He said this pandemic has showed the experience and competence of Beema Board of Directors, its executive management and their success of how to deal with such crisis and to achieve good results which enabled it to face its repercussions.

In light of these good results, the Board of Directors recommends, in coordination with the Sharia Supervisory Board, a distribution of 7 percent in surplus to policyholders, who had no claim records in 2020, and approved distribution of dividends to the shareholders with a rate of 10 percent, he added.

The Chairman said that the Beema Company succeeded to retain its leading position in the Qatari Takaful insurance market. Among the most prominent things the company did during 2020 was to activate the mechanisms and policies for managing the company’s investment portfolios, and to continue updating the anti-money laundering and terrorist financing policies, audit mechanisms, risks and compliance.

The company also took the necessary precautionary measures to protect the company to face the repercussions of the coronavirus pandemic, and made appropriations and reserves to face emergency risks, in addition to an appropriation for doubtful debts.

The company has adhered to the requirements and principles of corporate governance in accordance with the principles of corporate governance - issued by the Qatar Central Bank.

The Board of Directors expressed its sincere gratitude and appreciation to H H the Amir, and H E the Prime Minister, for their support and encouragement to the company. The Board also extend its sincere thanks to the employees of the Ministry of Commerce & Industry and the Qatar Central Bank for their sincere cooperation, Sharia’ Supervisory Board of the company for its generous guidance, shareholders and the customers, policyholders, for their trust and continuous support, and to company’s management and its employees for their dedication and hard work.

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