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The Al Ain Ahlia Insurance Company, incorporated in Abu Dhabi in 1975 under Law (18) and registered under No. (3) in the Insurance Companies Register, is subject to Federal Decree-Law No. (48) of 2023 regulating insurance activities. It has a paid capital of AED 150,000,000. A board meeting is scheduled for Thursday, 25th April 2024 at 12:00 PM. The agenda includes the election of the Chairman and Vice Chairman for the term 2024-2026, appointment of company committee members, and other new business. The meeting follows the board nomination decision made by the General Assembly on 23rd April 2024. The authorized signatory is Yaser Ibrahim Hmedan, the Board Secretary.
Ali Musmar, the Chief Executive Officer of ARAM Group Company PJSC, has sent a letter to the Disclosure and Compliance Section and Market Operations Surveillance Department of the Abu Dhabi Securities Exchange. The letter, dated April 22, 2024, contains the results of the company's Annual General Assembly Meeting. The meeting was held on the same day at 11:00 AM, both in person at the company's head office in Sharjah and virtually with the participation of shareholders. A copy of the letter was also sent to the Securities and Commodities Authority (SCA) in Abu Dhabi, UAE.
du, a part of Emirates Integrated Telecommunications Company (EITC), has announced the launch of a new fintech solution, du Pay. The app, licensed by the Central Bank of the UAE, offers a range of financial services including international and peer-to-peer money transfers, bill payments, and salary deposits through a unique IBAN for each user. The service is part of the UAE's move towards a cashless economy and digitalization. Available in six languages, du Pay aims to provide a secure and convenient financial ecosystem for all residents. The digital payment sector is projected to reach $3.3 trillion by 2031, and du Pay is expected to capture a significant market share.