Dubai – Mubasher: Takaful Emarat Insurance, listed on the Dubai Financial Market (DFM), announced that its board of directors has approved the resignation of CEO Fadi Jawdat Hindi.

Additionally, the board accepted the appointment of Tammam Abdullah as acting CEO effective from 22 August 2019, the company said in a bourse filing on Sunday.

The company further noted that the board has reviewed its Memorandum of Association and agreed to submit a proposal for general assembly meeting to recommend the amendments of the memorandum that are subject to relevant authorities’ approval.

This came on the sidelines of the board’s meeting that took place on Thursday, 22 August 2019.

In July, Takaful Emarat Insurance had reported its interim condensed consolidated financial results for the second quarter of 2019, recording a profit attributable to shareholders of AED 1.87 million.

In the first half of 2019, the company achieved an interim consolidated profit attributable to shareholders of AED 1.51 million, versus AED 2.39 million in the same period a year earlier.