Orient Takaful Insurance Egypt: share capital increase

The Financial Regulatory Authority (FRA) has approved Orient Takaful Insurance Egypt's share capital increase. The latter went from 150 million EGP (9.5 million USD) to 250 million EGP (15.8 million USD). The operation is partly funded by the company's profits.

Orient Takaful is 60% owned by Orient Insurance (Dubai), a member of Al-Futtaim Group. The rest of the capital is divided equally (20%) between Union National Bank Egypt and Abu Dhabi Islamic Bank.

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