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Article: First takaful company for Palestine.(contracts)(Brief article)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- August 18, 2006
CopyrightCOPYRIGHT 2006 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Ramallah-based Arab Islamic Bank (AIB) will establish the first takaful company in the Palestinian Territories. AIB will own a 25 per cent stake in the new company, which will have a capital of $10 million. Palestine Investment Bank will take a 12 per cent stake. Three local insurance companies --National Insurance Company, Trust Insurance Company and Ahliea Insurance Group--will each hold 750.000 shares or ...