Mubasher: Qatar Islamic Insurance Company (QISI) on Monday announced that its board has approved changing its name to Qatar Islamic Insurance Group (QIIG).

The board has approved establishing a real estate company owned 100 % by the group, according to a filing to the Qatar Stock Exchange (QSE).

In August, QISI revealed that its board of directors has received an approval from the Qatar Central Bank (QCB) to change its name to QIIG.

For the first half of 2018, the Qatari firm’s net profit grew 14% to QAR 41.12 million, from QAR 36.07 million in H1-18.

By the end of Thursday’s session, QISI’s stock declined 4.30% at QAR 51.71.