Dubai-listed Dar Takaful has announced that its Board of Directors will adopt a resolution by circulation regarding the opening of a new branch for the Company in Dubai.

Noteworthy, the Company had reported a net profit of AED 3.1 million during the first nine months of the year compared to a loss of AED 2.5 million during the first nine months last year. Meanwhile, financials for the third quarter of 2014 stood at a net profit of AED 600.7 THD compared to a net profit of AED 1.38 million during the same period in 2013, registering a 50% profit plunge.

Dar Takaful operates in Islamic insurance and maintains a capital amounting to AED 100 million divided on 100 million shares at par value AED 1 per share.