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Audit Committee and Board approved Financial Statements

Audit Committee and Board approved Financial Statements
Takaful Oman
TAOI
0.00% 0.04 0.00

We would like to announce that the Audit Committee and Board Meeting of Takaful Oman Insurance SAOG was held on January 21, 2015 (Wednesday). The Board has approved the Audited Financial Statements for 2014. 

 

1)     Statement of Shareholders Comprehensive Income

 

Particular  Amount - RO 
Wakala fee              203,832
Profit on deposit and bank balances              104,812
Fair value loss on financial asset through profit or loss              (79,874)
Total Income              228,770
General and administrative expenses             (692,632)
Details of Income and Expense            (463,862)
Pre-operating expenses            (142,293)
Loss before tax for the period            (606,155)
Taxation                87,331
Loss and total comprehensive loss for the period            (518,824)

 

 

 

2)     Statement of Participants Revenue and Expense

 

Particular  Amount - RO 
Gross contributions                582,377
Net retained contribution                206,884
Total takaful revenue               116,595
Net claims incurred                  36,834
Total takaful cost               117,316
Wakala fee             (203,832)
Deficit from takaful operations             (201,482)

 

 

 

3)     Statement of Financial Position of Shareholder & Policyholder

 

Particular  Amount - RO 
Non-current assets           8,538,937
Current assets           1,789,119
Total Assets         10,328,056
Capital and reserves           9,481,176
Participants’ fund             (201,482)
Non-current liabilities                    8,822
Current liabilities           1,039,540
Total liabilities         10,328,056