| :: Company Profile |
Takaful Re is dedicated to offer Shari’a compliant
reinsurance and related services to the growing Takaful
and Islamic insurance markets. Takaful Re is promoted
by Arig, a leading reinsurer in the Middle East for
more than 25 years with worldwide recognition in the
conventional market.
Takaful Re will benefit from Arig’s (www.arig.net)
expertise, strong financials, large capacity and ability
to lead the market. |
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| Co-Promoters |
| Committed to developing Takaful
Re as a key instrument in the industry's growth, the company's
co-promoters represent the region's leading financial
institutions. |
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| Board of Directors |
| Mr. Khalid Ali Al Bustani has been
elected to chair the Board. He is Assistant Under-Secretary
for Revenue and Budget at the Ministry of Finance and
Industry of the United Arab Emirates and the current
Chairman of Arab Insurance Group (Arig), which controls
54.5 % of Takaful Re. Mr. Bustani is also board member
of the Arab Bank for Investment and Foreign Trade (ARBIFT).
Mr. Sultan Ahmed Al Gaith, the Director
General of the General Pension and Social Security Authority
of the United Arab Emirates has been elected to the
position of Vice Chairman. He is also a board member
of Arab Insurance Group (Arig), EMAAR Property, Dubai
Islamic Bank and the Emirates Cooperative Society. Mr.
Al Gaith will also become the Chairman of the Executive
Committee of Takaful Re.
The Board of Directors is responsible for the overall
direction, supervision and control of the company. They
appoint the general management team and take responsibility
for developing the broad strategy for the overall business,
including the review and approval of the Company’s
strategy and business plans, allocation of capital and
budgets and the formulation of operating policies
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| General Management |
| Mr. Chakib Abouzaid has been appointed
as Chief Executive Officer. Mr. Abouzaid is a graduate
in economics of the Grenoble University, France and
brings with him over 15 years of experience in the reinsurance
industry with a special focus on Islamic reinsurance.
He joined Takaful Re after a successful assignment as
Regional General Manager for Middle East & Gulf
for Best Re.
Mr. Mohammed El-Dishish will assume
the responsibilities of Chief Financial Officer. Mr.
El-Dishish is a Certified Public Accountant from the
American Institute of CPA’s and brings with him
over 30 years of professional experience in the financial
services sector. Since 1998, Mr. El-Dishish has been
with Arab Insurance Group (Arig), where he headed the
Operations Management unit.
The day-to-day management of the Company is exercised
by the Chief Executive Officer, assisted by a management
team who are responsible for implementing strategies
and managing the Company's infrastructure and profitability.
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| Shari’a Board |
| • Sheikh Nizam Yaqoobi
Sheikh Nizam Yaqoobi is a member of a number of Shari’a
Supervisory Boards, including the Dow Jones Islamic
Index, Bahrain Islamic Bank and the Citi Islamic Investment
Bank. He is also member of Shari'a board of AAOIFI and
has been a visiting lecturer at Harvard University.
• Sheikh Dr. Abdulsattar Abou Ghuddah
Sheikh Dr. Abdul Sattar Abou Ghuddah has taught at various
institutes, including at Imam Al Da'awa Institute, Riyadh,
Religious Institute, Kuwait, and at the Shari’a
College and Law faculty in Kuwait University. He is
Secretary General of the Unified Shari’a Supervisory
Board of Dallah Albaraka Group, Jeddah, and a member
of Shari’a Board of AAOIFI.
• Sheikh Dr. Ahmed Abdul Aziz Al Haddad
Sheikh Dr. Ahmed Abdul Aziz Al Haddad is a member of
a number of financial companies. He is the Chief Mufti
of Dubai.
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| Capital |
| Takaful Re has an authorized capital of US$ 500 million
and paid-up capital of US$ 125 million making it one of
the most financially secured Retakaful companies in the
Middle East & North Africa region and the emerging
markets of the Islamic countries. |
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