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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.

Air Arabia has announced its Q1 2024 financial results, reporting a net profit of AED 266 million, which is 22% lower than the AED 342 million recorded in the same quarter of 2023. The airline's turnover increased by 8% to AED 1.54 billion, compared to the first quarter of the previous year. The number of passengers carried increased by 13% to 4.4 million, from 3.9 million in the first quarter of 2023. The seat load factor remained at 85%. Despite economic and geopolitical uncertainties, as well as fuel price volatility, the company remains committed to delivering value to its customers.

On 13th May 2024, the Board of Directors of Air Arabia held a meeting at 3:00 pm. The meeting was previously announced and during the meeting, the board approved the financial statements for Q1 2024. The information was shared by Abdelrahman Bin Taliah, the Director of Corporate & Government Affairs.

Air Arabia, the largest low-cost carrier in the Middle East and North Africa, has reported a net profit of AED 266 million for the first quarter of 2024, which is 22% lower than the AED 342 million earned in the same period in 2023. However, the airline's turnover increased by 8% to AED 1.54 billion, and the number of passengers carried rose by 13% to 4.4 million. Despite economic and geopolitical uncertainties, the company maintains a strong financial performance due to its commitment to operational excellence and value-driven products.

Al Salam Bank B.S.C reported various financial figures for the end of March 2024. These figures include placements with financial institutions at 353,633 BHD, Murabaha financing at 757,751 BHD, Mudaraba financing at 633,248 BHD, finance lease assets at 898,644 BHD, and other assets. The bank also reported non-trading investments at a fair value through equity of 163 BHD. The report also noted that non-Shari'a compliant assets resulted from the acquisition of BMI Bank, AlSalam Seychelles (ASBS), and Bahraini Saudi Bank B.S.C. ("BSB"). The non-sharia income is transferred to a charity pool, not recognised in the income statement, and disbursed as charity and donation contributions.

Al Salam Bank has reported a 36.3% increase in net profits for Q1 2024, amounting to BD 14.0 million (US$ 37.1 million), compared to BD 10.3 million (US$ 27.3 million) for the same period in 2023. This increase was mainly driven by growth in the bank's core banking activities and the acquisition of a subsidiary in Q2 2023. Earnings per share also rose by 32.4% to 4.9 fils (US$ 13.0 cents). Total income for the quarter was BD 68.7 million (US$ 182.2 million), a 46.0% increase from BD 47.0 million (US$ 124.8 million) in Q1 2023. Total assets increased by 3.3% to BD 5.3 billion (US$ 14.1 billion), while total equity attributable to parent shareholders increased by 2.2% to BD 344.8 million (US$ 914.5 million). The bank's capital adequacy ratio stood at 22.3% as of 31 March 2024.