With sales of $ 8 million in just six months Tamkeen Insurance holds its Ordinary General Assembly meeting
With sales of $ 8 million in just six months
Ramallah: Tamkeen Insurance holds its Ordinary General Assembly meeting
Ramallah - The General Assembly of Tamkeen Palestine Insurance Company hold its first General Assembly meeting on Sunday, April 28, 2019 at the Carmel Hotel – Ramallah. After the announcement of the completion of the quorum by Mr. Tarek Al Masry Companies Controller, The session was opened by His Excellency Dr. Majed Atta Al-Helo, Chairman of the Board, he welcomed the shareholders and thanked them for their confidence in the Board of Directors and the Executive Management and for their interest since the company's inception last year.
Al Helo pointed out the remarkable achievements that achieved during the past year in short period, which included the completion of the foundation stage efficiently and successfully, which began in October 2017 and continued until the completion of the requirements of the official bodies, And obtained the license to practice insurance business, Down to launch its services through a network of branches, offices and dealers, through more than 10 points of sale in most of the West Bank and Gaza Strip governorates, in parallel with a high level promotional campaign. Moreover, Tamkeen Insurance co. became a leader in the Palestinian insurance sector with its presence and market share And its stature locally, regionally and internationally, in a period not exceeding 12 months, what the Board of Directors considers a remarkable and qualitative achievement.
In addition, He pointed out that despite the newest of company, the volume of sales amounted to nearly $ 8 million in only six months, indicating the desire of the market and the Palestinian citizen to acquire the services of Tamkeen Insurance, in line with the provisions of Islamic Sharia
He praised the management of the company and its staff. "Our highly experienced and professional technical team, in cooperation with Future Information Systems Company, has built a computerized technical system covering all the technical and insurance operations in Palestine and This would not have been possible without the brains of Tamkeen staff, Who worked night by day to bring the company into existence, equipped with the best systems and professional literature and best practices globally.
The meeting discussed the report of the Board of Directors on the company's work for the year 2018 and approved it, in addition to hearing the report of the Sharia Supervisory Board represented by its President Prof. Hussam El-Din Afaneh, who expressed the opinion of the Authority and concluded that the company's business operations during 2018 was carried out in accordance with the provisions of Islamic Sharia, And reinsurance contracts with Islamic reinsurers by more than 90%.
Moreover, he pointed out that the financial statements for 2018 took into consideration the accounting standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
The meeting included hearing the report of the company's external auditor for 2018, discussing the financial statements for the year ended 31 December 2018 and approving them, as well as discharging the members of the board of directors for the mentioned financial year and electing Deloitte & Touche as an external auditor for 2019.
For his part, the general manager of the company Mohammed Al Rimawi said that what was achieved during the past year in a few months is considered a qualitative difference in the Palestinian insurance sector. In addition, He pointed out that the mission is not over yet and the ambitions of the executive management are unlimited. .
He added: "There are many advantages, services, insurance solutions and value added services, and the achievements that are currently underway to deliver them to the public in a timely manner, in a manner that meets the needs and aspirations, which will distinguish Tamkeen Insurance under the current competition.
Al-Rimawi predicted that the company's total sales during 2019 would be at least $ 20 million.