Latest Threads
Check out what has been happening in the community
Check out what has been happening in the community
The text is a formal notification from Amanda Dahdah, Governance Officer and Board Secretary of Aramex PJSC, addressed to Hamed Ahmed Ali, the CEO of the Dubai Financial Market. It informs him about the upcoming earnings call for Aramex PJSC scheduled for Tuesday, 18 February 2025, at 2:00 PM UAE time. The meeting will discuss the financial results for the fourth quarter and the full year ending 31 December 2024.
Aramex PJSC has scheduled a meeting on Tuesday, 11 February 2025, at 3:00 PM UAE Time. The agenda includes discussing the approval of the company's audited financial results for the fiscal year ending 31 December 2024, setting a date and agenda for the Annual General Meeting of shareholders, considering a recommendation on dividend distribution for the same fiscal year, reviewing business updates and routine matters, and providing an update on the offer from Q Logistics LLC and the next steps for the company. The meeting details are authorized by Amanda Dahdah, Governance Officer and Board Secretary of Aramex PJSC.
Sukoon Insurance PJSC, headquartered in Dubai, UAE, with a paid-up capital of AED 461,872,125, is regulated by the Central Bank of the UAE. The company's Board of Directors passed a resolution on February 6, 2025, by circulation. The resolutions include recommending to the General Assembly of shareholders the appointment of external auditors for the financial year 2025 and determining their remuneration, as well as distributing cash dividends for the financial year 2024 at 20% of the share capital. The communication was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and a copy was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority.
The financial data for Al Salam Bank B.S.C. outlines various categories of Sharia-compliant income, including financing contracts, placements with financial institutions, and different types of Islamic financing such as Murabaha, Mudaraba, and Musharaka. The bank also reports on finance lease assets and credit cards, among other assets. Non-Sharia income, resulting from the acquisition of BMI Bank, AlSalam Seychelles, and Bahraini Saudi Bank, is not included in the income statement but is instead allocated to a charity pool for donation purposes. The balance sheet and income statement are as of December 31, 2024.
Al Salam Bank B.S.C has announced that its Board of Directors has approved the Consolidated Financial Statements for the year ending December 31, 2024. This announcement was made to both the Bahrain Bourse and the Dubai Financial Market. The statement was signed by Ali Yusuf Al Khaja, the Head of Compliance and Money Laundering Reporting Officer.
Al Salam Bank reported a net profit of BD 16.7 million in Q4 2024, marking a 48.7% increase compared to the same period in 2023. This growth was mainly driven by the strong performance of its core banking operations and subsidiaries. However, total comprehensive income for the quarter showed a loss of BD 4.0 million, largely due to changes in the fair value of investments. For the fiscal year 2024, the bank's net profit rose by 39.8% to BD 59.0 million, with earnings per share increasing to 20.7 fils. Total comprehensive income for the year also increased by 33.2%. The bank's total equity grew by 6.8%, enhancing its capital adequacy ratio from 20.4% to 24.8%. Total assets expanded by 37.2% to BD 7.06 billion, driven by organic and inorganic growth. The board recommended a 14% dividend distribution, pending approvals. The bank's leadership highlighted the success of strategic initiatives, including the acquisition of Kuwait Finance House - Bahrain and the launch of ASB Capital. Future plans focus on AI, digital adoption, and expanding market share.
Dubai Insurance Co. has announced that a board resolution was made by circulation on February 6, 2025, to appoint Mr. Mohamed Abdelaziz Alowais as a new board member, pending approval from the Central Bank of the UAE. The announcement was addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, and was signed by Sahem Abdelhaq, the Head of Legal.