(MENAFN- The Peninsula) The Peninsula
Doha: Damaan Islamic Insurance Company (Beema) yesterday held an extraordinary general assembly meeting chaired by its Chairman of the Board of Directors sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani (pictured), virtually at the company's headquarters in Lusail.
Addressing the event, Sheikh Jassim said that the convening of the meeting came in response to the directives of the Qatar Central bank (QCB) to convert the company into a public company and to list its shares on the Qatar stock exchange (QSE).
He said that the directives came following Clause No. (3) Article (79) of the QCB Law and the regulation of financial institutions promulgated by Law No.13 of 2012.
The Chairman stressed that Beema realised the importance of the role it plays in developing the insurance sector, which constitutes a cornerstone of the national economy, especially Takaful insurance, given that this vital sector plays a major role in the State. He said that since its establishment in 2009, Beema is fully compliant with legislation and laws, as well as bylaws and instructions regulating insurance business and their updates, in order to ensure the activation of the company's Board of Directors to take it to new heights.
The Chairman said:“Following requirements of the regulatory authorities and the QCB law, we are holding our extraordinary general assembly based on the recommendation of the company's Board of Directors for the initial approval of the company's transformation into a public shareholding company, offering its shares for public trading and listing on the Qatar Stock Exchange'.
He said the company's share offering is the first step and the main pillar in implementing its objectives of becoming a leading national company in the field of Takaful insurance in the State of Qatar and moving from there to abroad.
The Chairman and the Board of Directors expressed their highest gratitude and appreciation to H H the Amir and H E the Prime Minister for their support and encouragement to the company.
He also thanked the employees of the Ministry of Commerce and Industry and QCB for their sincere cooperation, and to the Shariah Supervisory Board of the company for directives, and to the shareholders for their confidence and continuous support.
CEO of Beema Nasser Rashid Al Misnad expressed his happiness at the holding of the company's extraordinary meeting to adopt the recommendation of the company's board of directors regarding the initial approval of converting the company into a public company and listing its shares on the Qatar Stock Exchange.
He said that Beema achieved excellent results from January to October 2021 that reflect its strength, solidity, financial position and the position it made in the Takaful insurance market.
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