By Amr Adel

Dubai – Mubasher: Shareholders of Islamic Arab Insurance Co. (Salama) gave a nod on Thursday to the board’s proposal for withholding dividends for the fiscal year 2014.

Shareholders also endorsed financial statements for FY14 and discharged board members from liability for the same FY.

The company earlier posted AED 36.74 million ($10 million) in net profits for FY14, against AED 60.25 million ($16.4 million) in net loss a year earlier.

Translated by Sayed Abdel Rahman