Company type | Public |
---|---|
MSM:
AMAT MSM 30 component | |
Industry | Takaful |
Founded | 15 May 2006 |
Headquarters | , Oman |
Key people |
|
Products |
|
Revenue | RO23.1 million (2014) [1] |
RO 1.0 million (2014) [1] | |
Total assets | RO46.8 million (2014) [1] |
Total equity | RO20.9 million (2014) [1] |
Website |
www |
Al Madina Insurance Company SAOG (commonly known as Al Madina Takaful, Arabic: المدينة تكافل) is an Omani takaful company.
It was founded in 2006 as an insurance company. [1] In 2014, the Capital Market Authority granted Al Madina a takaful license. [1] Al Madina then converted all its insurance business to become Sharia-compliant and became the first takaful company in Oman. [2]
After the conversion, Al Madina embarked on acquisitions to expand its operations. In 2014, it invested in a 9.5 percent stake (along with its major shareholder MB Holding) in Abu Dhabi–based takaful operator Watania for AED 17.9 million. [3]
In 2014, Al Madina had a customer base of 37,000 policyholders. [4]
Company type | Public |
---|---|
MSM:
AMAT MSM 30 component | |
Industry | Takaful |
Founded | 15 May 2006 |
Headquarters | , Oman |
Key people |
|
Products |
|
Revenue | RO23.1 million (2014) [1] |
RO 1.0 million (2014) [1] | |
Total assets | RO46.8 million (2014) [1] |
Total equity | RO20.9 million (2014) [1] |
Website |
www |
Al Madina Insurance Company SAOG (commonly known as Al Madina Takaful, Arabic: المدينة تكافل) is an Omani takaful company.
It was founded in 2006 as an insurance company. [1] In 2014, the Capital Market Authority granted Al Madina a takaful license. [1] Al Madina then converted all its insurance business to become Sharia-compliant and became the first takaful company in Oman. [2]
After the conversion, Al Madina embarked on acquisitions to expand its operations. In 2014, it invested in a 9.5 percent stake (along with its major shareholder MB Holding) in Abu Dhabi–based takaful operator Watania for AED 17.9 million. [3]
In 2014, Al Madina had a customer base of 37,000 policyholders. [4]