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Al Ramz Corporation PJSC, a UAE non-banking financial institution, reported its Q1 2024 financial results, with a net profit of AED 2 million. The corporation saw a 29% growth in non-investment revenues, but reported an investment loss of AED 5.5 million, attributed to regional geopolitical unrest and subdued markets. Despite this, the quality of earnings surged to AED 7 million. The company's corporate finance and advisory revenues increased by 149%, while financing revenues grew by 15%. The Group's Managing Director expressed satisfaction with the results, noting the robust increase in non-investment revenues and the company's resilience in dynamic market conditions.

Islamic Arab Insurance Company (SALAMA), the UAE's largest Takaful solutions provider, has opened a new office in Abu Dhabi, marking a significant step in its strategic growth phase. The new office is designed to enhance operational efficiencies and foster innovation. It is equipped with advanced facilities and a progressive work environment to provide personalised support and networking opportunities for SALAMA’s customers and partners. CEO Walter Jopp stated that the new office would help boost the company's local and regional presence and address the evolving protection needs of customers in the fast-emerging Abu Dhabi region.

The document presents the unaudited interim condensed financial statements of Orient Takaful P.J.S.C. for the three-month period ending on 31 March 2024.