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Al Salam Bank, in partnership with Solidarity Bahrain, has launched a Ramadan campaign offering a 15% cashback on comprehensive Takaful Motor insurance. This offer, valid until March 31, 2025, is available to Al Salam Bank clients who own or plan to purchase a vehicle. Additionally, clients can receive a 15% discount on Takaful Travel and Takaful Property insurance during Ramadan. The bank aims to provide seamless access to these services through various channels and emphasizes its commitment to Sharia-compliant products. Mr. Mohammed Buhijji, Head of Retail Banking, highlighted the campaign's goal of offering value-added benefits to reduce clients' financial burdens. For more information, clients can visit the bank's website, contact via WhatsApp, or use the Skiplino app to book an appointment.
On 11 March 2025, a communication was made regarding a resolution passed by the Board of Directors of the Dubai Financial Market (PJSC). This resolution, passed by circulation, pertains to an internal matter of the company. The notification references a previous disclosure made by the company on 6 March 2025.
Agility Public Warehousing Company has announced that it has refinanced a portion of its existing credit facilities, increasing the amount from $233 million to $280 million with a new tenure of five years. This refinancing follows a previous disclosure made on January 8, 2023. The additional amount will be reflected in the company's liabilities when used, but there is no material impact on the company's financial position at this time.
Aramex PJSC announced an update on the voluntary conditional cash offer from Q Logistics Holding LLC, a subsidiary of Abu Dhabi Developmental Holding Company PJSC (ADQ), to acquire the remaining shares of Aramex not held by Abu Dhabi Ports Company PJSC. The update, received on March 10, 2025, details the results of the offer. Q Logistics will continue accepting shares from Aramex shareholders who did not tender during the offer period until 3:00 PM (UAE time) on March 24, 2025. The final total of tendered shares will be announced on March 28, 2025. Aramex will provide further updates on any significant developments.
A new series of equity futures contracts will be available for trading on the Dubai Financial Market starting March 13, 2025. The contracts, set to expire on June 19, 2025, include various futures such as AIRARB, ANSRI, ARMX, DEWA, DEYAAR, DFM, DFMGI, DIB, DIC, DU, EMAAR, EMPWR, EMRDEV, ENBD, GFH, SALIK, and SHUAA. This announcement can be accessed on the Dubai Financial Market's website. The information provided is subject to change and is not a replacement for the official Dubai Financial Market Regulated Derivative Contract Trading Regulation.
TECOM Group held its Annual General Assembly Meeting at Dubai Internet City, where shareholders approved a cash dividend of AED 400 million for the second half of 2024. This brings the total dividends for 2024 to AED 800 million. The Board of Directors was re-elected, and the financial statements for 2024 were approved. Chairman Malek Al Malek highlighted the group's strong performance in 2024, which included AED 2.7 billion in strategic investments aimed at sustainable growth. TECOM reported a 11% increase in revenues to AED 2.4 billion and a 14% rise in net profits to AED 1.2 billion for 2024, with high occupancy and retention rates. The group continues to focus on expanding its portfolio and enhancing customer satisfaction across its business districts.