The Board of Directors of Islamic Insurance recently has approved the purchase of 500,000 shares of AL-Jisr Takaful Company (Q.S.C. under formation) for the value of QR 5,000,000 in addition to 1 % thereof (QR 50,000) to cover formation charges, representing 2% of the Company’s paid-up capital of QR 250 Million.

The ownership of AL-Jisr Takaful Co. has been distributed equally between Qatar & Bahrain with the most prominent national insurance companies and public institutions in both countries - including Qatar Foundation and the Qatari Civil and Military Pension Funds - owning 40% of the paid-up capital. The remainder of the paid-up capital (60 %) will be owned equally between the citizens of the two countries through a public I.P.O.