Al Madina Insurance Company SAOG (commonly known as Al Madina Takaful, Arabic: المدينة تكافل) is an Omani takaful company.
| Company type | Public |
|---|---|
| MSM: AMAT MSM 30 component | |
| Industry | Takaful |
| Founded | 15 May 2006 |
| Headquarters | , Oman |
Key people |
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| Products |
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| Revenue |  RO23.1 million (2014)[1] |
 RO1.0 million (2014)[1] | |
| Total assets | RO46.8 million (2014)[1] |
| Total equity | RO20.9 million (2014)[1] |
| Website | www |
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]
References
edit- ^ a b c d e f Annual Report 2014 (PDF), Al Madina Insurance Company SAOG, archived from the original (PDF) on 2016-02-22, retrieved 2015-08-29
- ^ "MAISARAH SIGNS PARTNERSHIP WITH AL MADINA TAKAFUL". Muscat Daily. 2014-04-15. Retrieved 2015-08-29.
- ^ "Al Madina Takaful plans to acquire Vision Insurance". Zawya. 2015-06-23. Retrieved 2015-08-29.
- ^ "Al Madina expects robust takaful insurance growth in Oman". Times of Oman. 2014-06-15. Retrieved 2015-08-29.