The Islamic Arab Insurance Company (SALAMA) has scheduled a Board of Directors' meeting on Tuesday, February 10, 2026, at 3:00 PM. The meeting will cover the approval of the minutes from the previous board meeting held on December 25, 2025, and decisions made by circulation. Additionally, the board will discuss and approve the preliminary, unaudited financial results for the fiscal year ending December 31, 2025, along with addressing regular matters and any other business. The announcement was made by Ahmad Abdelrahim, Senior Manager of Legal & Compliance.
The Islamic Arab Insurance Company (SALAMA) announced that its Board of Directors has passed resolutions, subject to prior regulatory approvals from the UAE Central Bank and the Capital Market Authority. The resolutions include accepting proposed subscriptions to the company's convertible sukuk by Eshraq Investment Company for AED 66,825,000 and by Humana Holding Limited for AED 88,175,000. These subscriptions are in accordance with the terms and conditions approved by the company's general meeting on October 16, 2025, and the Board of Directors' resolutions on November 24, 2025.
SALAMA, the Islamic Arab Insurance Company, has received shareholder approval for strategic investors Eshraq Investments PJSC and Humana Holding Limited to participate in its Mandatory Convertible Sukuk issuance, each subscribing up to AED 175 million. This move is part of SALAMA's recapitalization and long-term growth strategy to transform into a national insurance leader based in Dubai. The capital raised will support investments in talent, technology, infrastructure, brand development, distribution, and future mergers and acquisitions. The participation of these investors indicates strong institutional confidence in SALAMA's transformation and long-term vision.
The Islamic Arab Insurance Company, SALAMA, held a General Assembly meeting on January 30, 2026, both at their headquarters in Dubai and virtually. The meeting, chaired by Mr. Essa Ali Bin Salem Alzaabi, had a quorum of 52.2909% of total attendance, with 38.0484% authenticity and 14.2425% by proxy. Key decisions included the appointment of Mr. Ahmad Abdelrahim as Secretary and Mr. Mohamed Shaaban as Attendance Register and Vote Collector. The assembly approved the issuance of Mandatory Convertible Sukuk (MCS) following a capital reduction, pending regulatory approvals. The meeting also approved the participation of Eshraq Investment P.J.S.C. and Humana Holding Limited, both related parties, to subscribe to the MCS for up to AED 175,000,000 each, as part of a capital restructuring plan to restore the company's capital adequacy.
The Islamic Arab Insurance Company (SALAMA) is planning to have its Board of Directors pass a resolution by circulation on Tuesday, February 3, 2026. The resolution will address the upcoming issuance of mandatory Convertible Sukuk (MCS) and other general business-related matters of the company. The letter is addressed to H.E. Waleed Saeed Abdul Salam Al Awadhi, CEO of the Capital Market Authority in Abu Dhabi, and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and is signed by Ahmad Abdelrahim, Senior Manager of Legal & Compliance.
The Islamic Arab Insurance Company (PJSC) held a General Assembly Meeting on October 16, 2025, where shareholders approved a capital reduction totaling AED 456,567,815. This reduction will be achieved by extinguishing accumulated losses of AED 443,861,155 through the cancellation of 439,737,326 shares on a pro-rata basis and utilizing AED 4,123,829 from the statutory reserve to offset the remaining losses.
According to Clauses 1 and 2 of Article 40 of the Corporate Governance Manual, shareholders are informed that they may delegate their right to attend the general assembly to someone of their choosing, as long as the delegate is not a board member, company employee, or employee of a securities brokerage company. This delegation must be done through a written power of attorney that explicitly states the proxy's right to attend and vote at the assembly. The proxy must not hold more than 5% of the company's issued capital on behalf of shareholders. Legal representatives must represent those who lack legal capacity. The shareholder's signature on the power of attorney must be approved by one of the following entities: a notary public, a commercial chamber or economic department in the state, a bank or licensed company where the shareholder has an account, or any other licensed entity authorized to perform attestation. The proxy form must include the shareholder's name and contact number, as well as those of the brokerage firm that approved the proxy. This form serves as a guideline for issuing a proxy, with the requirement that the shareholder's signature be approved by one of the mentioned authorities. For further inquiries or clarification, contact can be made via telephone at 00971 4 4040223 or email at Ahmad.Abdelrahim@salama.ae.
The Islamic Arab Insurance Company (PJSC) held a General Assembly Meeting on October 16, 2025, where shareholders approved a capital reduction of AED 456,567,815. This reduction will be accomplished by eliminating accumulated losses of AED 443,861,155 through the cancellation of 439,737,326 shares on a pro-rata basis and utilizing AED 4,123,829 from the statutory reserve to cover the remaining losses.
The Islamic Arab Insurance Company (SALAMA) has increased the permitted ownership limit for non-UAE nationals in its share capital to 49%, as stated in the company's articles of association. However, UAE nationals and Gulf Cooperation Council (GCC) nationals must maintain at least a 51% shareholding in the company. The previous ownership limit for non-UAE nationals and GCC nationals was 25%, and this will remain in effect until December 30, 2025. The new ownership limits will take effect on December 31, 2025.
A meeting of the Board of Directors of the Islamic Arab Insurance Company (SALAMA) was held on December 25, 2025. The Board approved the company's budget for 2026. Additionally, they decided to invite the General Assembly to discuss and approve related party transactions concerning the planned issuance of convertible sukuk, subject to approval from the Central Bank of the UAE and the Securities and Commodities Authority. This will occur after the company's capital reduction is completed, with the Chairman authorized to set the meeting's date and location.
The Islamic Arab Insurance Company (SALAMA) is scheduled to hold a Board of Directors meeting on December 25, 2025, at 4:00 PM. The agenda includes considering and ratifying the company's budget for 2026, as well as discussing regular matters and any other business. The notice is signed by Ahmad Abdelrahim, Senior Manager of Legal & Compliance.
The Islamic Arab Insurance Company (Salama) is in the process of obtaining necessary approvals from the Securities and Commodities Authority (SCA) for a planned capital reduction. Once these approvals are secured, Salama will announce the relevant record date, last entitlement date, and effective date for the capital reduction. The company is committed to keeping shareholders informed of any significant developments in accordance with disclosure requirements.