AlKhaleej Takaful Insurance BBB+

S&P Global Ratings has upgraded the long-term credit rating of Al-Khaleej Takaful Insurance from BBB to BBB+ with a stable outlook READ MORE

 

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ANNOUNCEMENT FROM AL KHALEEJ TAKAFUL INSURANCE

Al Khaleej Takaful Insurance Company Group announces the following:-
 
 1. The Board of Directors recommended during their meeting on 21/2/2018, to distribute cash dividend of 5% of the nominal value of the share that is QR 0.50 Dirhams for each share for the financial year ending on 31/12/2017. This was disclosed and indicated that the recommendation is subject to the approval of the regulator and general assembly of the company. 
2. On 12/3/2018 the approval of Qatar Central Bank on the financial statements was received and is  conditional on recognizing of impairment losses on the market value of financial investments in the income statement in accordance with the opinion of the auditor and in compliance with applicable accounting standards.
3. In compliance with the letter of the Qatar Central Bank, the impairment in the market value of the investments will be recognized in the income statement and provision for impairment will be made and therefore no dividend will be made.
 

 

Alkhaleej Takaful Insurance Company is licensed and approved by the Central Bank of Qatar under the license number 5/1979

  

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