Islamic Arab Insurance Company (Arabic: الشركة الإسلامية العربية للتأمين) commonly known as Salama, سلامة is a takaful company based in Dubai, United Arab Emirates. The company and its subsidiaries operate in the UAE, Algeria, Egypt, Senegal, and Saudi Arabia.[2]
| Company type | Public |
|---|---|
| DFM: SALAMA | |
| Industry |
|
| Founded | 29 April 1979 |
| Headquarters | , United Arab Emirates |
Key people |
|
| Products |
|
| Revenue |  AED 731 million (2014)[1] |
 AED 37 million (2014)[1] | |
| Total assets | AED 3,592 million (2014)[1] |
| Total equity | AED 1,173 million (2014)[1] |
| Website | www |
Salama was founded in 1979 and listed on the Dubai Financial Market.[3] It is one of the leading takaful companies in the region, offering products in family and general takaful.[4] Its subsidiary, Best Re, is one of the largest retakaful companies in the world.[5][6]
The company won Best Takaful Company (Middle East) at the 2012 International Takaful Awards.[7]
Salama specializes in Sharia-compliant insurance products designed to meet the needs of Muslim customers who want insurance coverage that aligns with their religious beliefs. Sharia-compliant insurance, also known as takaful,[8] operates on the principle of mutual cooperation and shared risk among policyholders, and is structured in a way that avoids charging interest or engaging in speculative investments.
References edit
- ^ a b c d Annual Report 2014 (pdf), Islamic Arab Insurance Company, 2014-12-31, retrieved 2015-08-28
- ^ "TEXT-S&P affirms Salama/Islamic Arab Insurance Co. and BEST RE rtgs". Standard & Poor's. 2012-12-21. Retrieved 2015-08-28.
- ^ "Islamic Arab Insurance Company". Arabian Business. Retrieved 2015-08-28.
- ^ "Salama marks 30 years of excellence, December 2009". AMEinfo.com. 2009-12-01. Retrieved 2015-08-28.
- ^ "GCC nationals can now own shares of SALAMA". Khaleej Times. 2006-02-14. Retrieved 2015-08-28.
- ^ Al Sayegh, Hadeel (2013-07-05). "UAE Islamic insurance providers issue warning as losses pile high". The National. Retrieved 2015-08-28.
- ^ "The Premier Takaful Gathering of the Year" (PDF). The International Takaful Summit. 2012-07-18. Retrieved 2015-08-28.
- ^ "What is Takaful".