Latest Threads
Check out what has been happening in the community
Check out what has been happening in the community
Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219, held a Board of Directors meeting. During the meeting, the board approved the consolidated and audited financial statements for the period ending June 30, 2025, along with other matters related to the company's operations. The meeting was addressed to Mr. Hamid Ahmed Ali, CEO of Dubai Financial Market.
The document outlines the financial situation of Takaful Emarat – Insurance (PSC) as of the second quarter of 2025, prepared according to the SCA Board of Directors' Decision No. (32/R.M.) of 2019. This decision mandates companies with accumulated losses of 20% or more of their paid-up capital to disclose certain information. As of the report, Takaful Emarat has accumulated losses of AED 33,540,000, representing 16% of its paid-up capital. The losses began in 2019 due to higher-than-expected medical claims and lower investment returns, compounded by additional losses from a merger and acquisition project, asset revaluation, and restated financial statements between 2020 and 2022. However, in Q2 2025, the company reported a net income of AED 9.8 million, recovering from a net loss of AED 13 million in the same period the previous year. This recovery was attributed to improved operational efficiency, cost control, and investment strategy, alongside a capital injection in December 2024, which strengthened the company's solvency and financial stability. The company is now positioned to pursue growth opportunities, innovate, and expand its product offerings, with enhanced underwriting capacity and operational flexibility.
Emirates Investment Bank P.J.S.C. has released its interim condensed financial information for the six-month period ending on June 30, 2025.