This acquisition is considered as a new move for Siraj Holding Company in carrying out the operations of Al Hilal Takaful Company, in order to push its performance as a field of Takaful Insurance solutions provided to all individuals, business owners and government agencies across the United Arab Emirates, according to a press release.
The purpose of this acquisition is to promote offers of insurance products in compliance with Islamic Sharia. The shareholders, the Securities and Commodities Authority and the Insurance Commission approved this transaction, as it was completed in line with the requirements of all the relevant regulatory authorities.
The company plans to fully renew the brand and align it with the new appointed leadership and group operating model, after fulfilling the required formal regulatory formalities.
The company seeks to completely renew the brand and align it with the new appointed leadership and group operating model, after fulfilling the required formal organizational formalities..
In January 2020, Al Hilal Bank approved Selling Al-Hilal Takaful Company to Siraj Holding Company.
It is noteworthy that Al Hilal Bank is 100 percent owned by the Abu Dhabi Commercial Bank Group, listed on the Abu Dhabi Stock Exchange.