IslamicFinance.de

The Board of Directors of Daman Islamic Insurance Company (Beema) has approved the financial statements of the Company for the nine months ended September 30, 2013. Announcing the financial results, Beema Chairman Sheikh Jassim bin Hamad bin Jassim bin Jabor Al Thani said the Company’s net profit has crossed QR40m during the period, up 111 percent compared with the same period last year. Income from investment increased 154 percent during the period. The premium collection of the company recorded more than QR160m, up 24 percent, compared with the corresponding period in 2012. Sheikh Jassim noted the portfolio of shareholders recorded 119 percent growth in the profit against the same period of 2012.

Daman Islamic Insurance Company’s net profit crossed QR40m for the first nine months of 2013. The figure reflects a 111 percent increase compared to the same period in 2012. Announcing the financial results, Daman Islamic Insurance Company Chairman Sheikh Jassim bin Hamad bin Jassim bin Jabor Al Thani said the returns from the investments increased by 160 percent on year-on-year basis. Sheikh Jassim attributed the company’s strong performance during the period to the diverse insurance products available in the market. The opening of new branches also supported the growth, he said.

Qatar Islamic Bank (QIB) has charted out a five-year global investments strategy to help anchor the Bank’s position as an Islamic financial institution of international stature. According to the Bank Chairman Sheikh Jassim bin Hamad bin Jassim bin Jabor Al Thani, QIB seeks innovation and diversification of its credit portfolio, support for small and medium enterprises, expansion of foreign investments, and maximisation of total profits. QIB recorded a net profit of QR1.24bn for the year 2012. Growth was also registered in other financial positions, such as total assets, customer deposits and total income.