Islamic Arab Insurance Company, commonly known as Salama, has made a strategic decision by appointing Essa Ali Bin Salem Al zaabi as the new Chairman of its Board of Directors. This move marks a significant milestone in the company’s ongoing transformation and growth journey.

Mr. Al zaabi, who brings over two decades of leadership experience, is renowned for his expertise in human capital development, entrepreneurship, and institutional transformation. Prior to this role, he served as Senior Vice President at the Dubai Chamber of Commerce and Industry, where he launched the Dubai Startup Hub, and held senior roles at the Emirates Institute of Finance, Dubai World Trade Centre, and Tanmia.

His appointment follows the shareholder approval of Salama’s recapitalisation plan, which aims to enhance solvency, strengthen regulatory capital, and support sustainable long-term growth. This plan aligns with the Central Bank of the UAE’s requirements, ensuring that Salama remains a leading provider of Takaful solutions.

In his statement, Mr. Al zaabi emphasized the importance of sustaining healthy underwriting performance, efficient use of capital, and maintaining high service standards for policyholders. He expressed his eagerness to work closely with the Board and management to accelerate Salama’s strategic ambitions and reinforce its market leadership.

Mohamed Ali Bouabane, Group CEO of Salama, also expressed confidence in Mr. Al zaabi’s capabilities. He highlighted that Mr. Al zaabi's proven track record in governance and transformation will fortify Salama’s foundations. The focus will remain on profitable growth, capital optimization, and operational excellence to deliver consistent value to shareholders and customers.

Given the strong leadership and strategic plans in place, Salama appears to be on a promising path toward growth and enhanced market presence. Investors might find this an opportune moment to consider buying into Salama, as the company is poised for potential growth under its new leadership.