Islamic Arab Insurance Company

The Islamic Arab Insurance Company, known as SALAMA, held a General Assembly Meeting on October 6, 2025. Following approval from the Central Bank of the United Arab Emirates on October 16, 2025, five new members were elected to the Board of Directors through cumulative voting by secret ballot. These members will fill the vacant seats for the remainder of the current term, which ends in April 2026. The elected board members are Mr. Rashed Mohammed Ali Abdulrahman, Mr. Buti Abdulla Mohammed Aljumairi, Mr. Essa Ali Bin Salem Bin Hassim Alzaabi, Mr. Umair Nizami Zulfiqar Ali, and Mr. Parvaiz Siddiq.

The Islamic Arab Insurance Company (SALAMA) is scheduled to hold a Board of Directors meeting on Tuesday, October 21, 2025, at 10:00 AM. The meeting will cover the election of the Board Chairman, the restructuring of Board Committees according to the company’s governance framework and applicable regulations, the continuation of the capital reduction process including the publication of the creditors' announcement, as well as regular matters and any other business. The notification was issued by Ahmad Abdelrahim, Senior Manager of Legal & Compliance.

The document is a formal announcement regarding the list of candidates for five vacant positions on a company's Board of Directors. The announcement is addressed to H.E. Waleed Saeed Abdul Salam Al Awadhi, CEO of the Securities and Commodities Authority, and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market. It states that nominations for the board positions were open from August 16 to August 26, 2025, and the applications received are from the following candidates: Dr. Amin Khairalla Ahmed Aballa Al-Ali, Mr. Buti Abdulla Mohammed Aljumairi, Mr. Umair Nizami Zulfiqar Ali, and Mr. Essa Ali Bin Salem Bin Hassim Alzaabi. All candidates are applying for independent, non-executive roles.

The document is a critical notice requiring immediate attention from shareholders of the Islamic Arab Insurance Company (SALAMA). Shareholders uncertain about the actions to take should seek independent financial advice from a licensed adviser in the UAE. If shares have been sold or transferred, the document should be forwarded to the new owner or relevant agent. The implementation of a transaction is contingent on approval of resolutions at the SALAMA General Meeting and receipt of necessary regulatory approvals, including those from the UAE Central Bank, the Securities and Commodities Authority (SCA), and a Sharia compliance opinion. SCA's approval of the document does not equate to approval of the transaction itself and the SCA is not responsible for the document's content accuracy. The SALAMA Board is accountable for the document's authenticity and completeness. The document's distribution may be restricted outside the UAE, and recipients should comply with local laws to avoid legal violations.