Islamic Arab Insurance Company (SALAMA) to Discuss Preliminary Financial Results

SALAMA, the Islamic Arab Insurance Company, is set to hold a board meeting on 14th February 2024, with the preliminary financial results for the fiscal year ended on 31st December 2023 on the agenda.

Islamic Arab Insurance Company (SALAMA) to Discuss Preliminary Financial Results

Summary

The meeting will also cover the approval of minutes from the previous board meeting and other general matters. Despite the company's strategic moves, the future outlook appears pessimistic due to a negative yield trend.

The Islamic Arab Insurance Company, also known as SALAMA, has announced a forthcoming board meeting on 14th February 2024. The meeting's agenda includes the approval of the minutes from the previous board meeting held on 14th November 2023, as well as the discussion and approval of the preliminary financial results for the fiscal year that ended on 31st December 2023. Other general matters will also be discussed during the meeting. The announcement was made by the company's General Counsel, Khaled Barakat, on 9th February 2024. SALAMA, a public shareholding company registered in the United Arab Emirates (UAE), operates through various branches in the UAE and is involved in the writing of all classes of general takaful and family takaful business, in accordance with Islamic Shari’a principles. However, despite these strategic moves, the future outlook for the company appears pessimistic. In the recent past, the company has experienced a negative yield trend, with a 3-month yield of -0.23% and a 1-month yield of -0.21%. The company's market cap stands at 497,982,169. This negative yield trend could be a cause for concern for potential investors as it indicates a potential decline in the company's profitability. The company's future financial performance could be negatively impacted if this trend continues. Given these circumstances, it may be advisable for investors to hold off on purchasing additional shares in the company until there is a clear indication of a positive change in the company's financial performance. Existing shareholders may also want to consider whether they should hold onto their shares or sell them.

Source

BOD meeting

Summary

The Islamic Arab Insurance Company, SALAMA (PSC), has announced a board meeting to be held on 14th February 2024 at 3:00pm. The agenda includes approving the minutes from the previous board meeting held on 14th November 2023, discussing and approving the preliminary financial results for the fiscal year ended on 31st December 2023, and discussing other general matters. The announcement was made by the General Counsel, Khaled Barakat, on 9th February 2024.

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