Latest Threads

The Sharjah Cement and Industrial Development Company PJSC is submitting its Integrated Report for 2023. The report is in compliance with the regulatory controls and directives issued by the Securities and Commodities Authority in Abu Dhabi. The content of the report includes the Board of Directors Report, External Auditor's Report, Annual Financial Statements for 2023, Corporate Governance Report for 2023, and the Sustainability Report for 2023.

The Sharjah Cement and Industrial Development Company PJSC is presenting its Integrated Report for 2023. The report is in compliance with the regulatory controls and guidelines issued by the Securities and Commodities Authority in Abu Dhabi. The report includes the Board of Directors Report, the External Auditor's Report, the Annual Financial Statements for 2023, the Corporate Governance Report for 2023, and the Sustainability Report for 2023.

The Chairman of Insurance House PJSC (IH) has presented the financial statements for the year ended 31 December 2023. The UAE Insurance Industry faced another challenging year which required companies to adjust their business strategies, pricing models and service delivery to remain profitable. IH identified accounting errors related to reinsurance share of premium, reinsurance share of loss adjustment and commission income relating to reinsurance of medical stream. To correct these, IH reversed Reinsurance receivable from reinsurers amounting to AED 69 million and made a one-time adjustment of AED 9.94 million due to the adoption of IFRS 17. IH registered a Total Comprehensive Loss of AED 41.01 million for 2023, up from AED 28.35 million the previous year. The loss was primarily due to low rates of insurance premium in the Motor business. Corrective actions have been taken to improve this. Insurance Revenue was slightly lower at AED 242.95 million, while Insurance Service Expenses were lower at AED 270.14 million.

On March 29, 2024, GFH Financial Group B.S.C announced that it has acquired 14,565,923 of its own shares (treasury shares). This purchase increased the total holding of treasury shares from 331,601,748 (representing 8.65% of the total issued shares) to 346,167,671 (representing 9.03% of the total issued shares). The decision to purchase was made during the company's board meeting in September 2021 and was approved by the Authority in March 2024. The average purchase price for these shares was 1030 USD per share.

The text refers to Ajman Bank's Annual Integrated Report for the year 2023, which is inspired by Sharia'a values.