Agreement signed between Qatar Islamic Insurance company and Qatar Finance House

Agreement signed between Qatar Islamic Insurance company and Qatar Finance House.

This Agreement covers all insurance services required by the Qatar Finance House or its employees. The covers are also extended to their customers who receive finance in any form of the Islamic trading formulas.  The program protects the debits offered to QFH customers by taking the responsibility of settling all the installments due  arising due to the situation of sudden  death or total disability or any of them.  These insurance protections turns necessary and important for Finance funded and families from the loss of their breadwinners, relieved from the financial obligations of the debts or as compensation that the breadwinner may have worked during his life.

The agreement also includes insurance on the building owned by the Finance House against fire and theft insurance in addition to the money in the treasury and the money transferred, including fidelity guarantee’.

The GAIF 29th General Conference (Marrakech-Morocco, 21 – 23 May, 2012)

Theme: «Insurance and the Arab World Reform»

The selection of the theme in the current circumstances is very significant in the sense that insurance and reinsurance represent one of the main constituents of the economies of nations and thereby, it is necessary to go along with the changes that occur in the lives of the Arab Citizens.

QIIC’s Top Management teams attended the Conference.

The GAIF 29th General Conference (Marrakech-Morocco, 21 - 23 May, 2012)

Appointment of Mr. Ali Ibrahim AL Abdul Ghani as General Manager for Qatar Islamic Insurance Co.

The Board of Directors of Qatar Islamic Insurance chaired by HE Sheikh Abdullah Bin Thani Al-Thani, adopted the appointment of Mr. Ali Ibrahim AL Abdul Ghani as General Manager of the Company with effect from 1/5/2012 .

It is worth mentioning that Mr. AL Abdul Ghani holds a Bachelor Degree of Business Administration from the University of Campbell, North Carolina – United States of America in 1985.

After graduating he worked at the Ministry of Labour and Social Affairs in the post of Chief Financial and Administrative Affairs, and then in 1987 he moved to work in the Qatari Armed Forces, he has been assigned to several leadership positions during his tenure there, most recently was General Director of the Qatar Armed Forces Procurements Department.

In addition, Mr. AL Abdul Ghani attended many courses on how to provide and manage resources, business contracts and adopting modern methods in the art of negotiation, budgeting, risk management, building the organizational structures of institutions, modern management of human resources in addition to lots of seminars and forums on the local and regional level and international levels.

Mr. AL Abdul Ghani expressed his thanks to the Board of Directors for there confidence to appoint him of this position, wishing success and contribute to the development of the company’s performance.

The AGM at Qatar Islamic Insurance endorses all items on its agenda and approves the distribution of 30% cash dividend

Qatar Islamic Insurance Company  announces the results of the Ordinary General Assembly Meetings held on Monday 5.3.2012 and approved the following :-

  1. To hear the report of the Board of Directors on the activities of the Company and the financial position for the Year ended 31.12.2011 and future plans of the Company.
  2. To hear and approve the report of the Shari””a Supervisory Board for the Financial Year ended 31.12.2011.
  3. Approved the Independent Auditors”” report on the Company””s financial statements presented by the Board of Directors for the Financial Year ended 31.12.2011.
  4. Approved the Company Policyholders and Shareholders”” financial statements for the Year ended 31.12.2011.
  5. Approved the recommendation made by the Board  to  Distribute  cash dividend of 30 % of the share””s nominal value, i.e. QR 3 for each share held, to the shareholders for 2011.
  6. Absolved the Board of Directors from responsibility for the Financial Year ended 31.12.2011 and to determine their remuneration for the year 2011.
  7. Deloitte & Touche has been appointed as Independent Auditors for the Financial Year 2012 and their fees is Qr. 75,000.

The Board of Directors at Qatar Islamic holds a meeting on February 07, 2012

The Board of Directors at Qatar Islamic holds a meeting on February 07, 2012 to discuss and approve the Financial Statements ending December 31, 2011

Qatar Islamic Insurance Company announced that its Board of Directors will be holding a meeting on Tuesday 7th February 2012 to discuss and approve the audited financial statements ending December 31, 2011, recommend the dividend distribution to the shareholders of the company for the year 2011.

Public Auction of Used & Damaged Cars

Qatar Islamic Insurance Company announces the sale of used & damaged Vehicles through public auctions:

Auction Place : QIIC Store/Yard, Industrial Area, Street 43

Auction Date : Saturday, 04/06/2011

Auction Time : 10.00 AM

Details of Vehicles to be Sold:

NO Car Make year Reg No
1 Nissan Altima 2005 340993
2 Mitsubishi lancer 2010 403567
3 Honda Accord 2006 323727
4 Chevrolet Cavalier 2005 26850
5 Dodge Charger 2008 340993
6 Chevrolet Lumina 2009 376102
7 Chevy Suburban 2010 423605
8 GX 2009 124593
9 Nissan Tiida 2011 290452
10 Toyota Previa 2005 340993
11 GMC Yukon 2009 156270
12 Chevy Silverado 2008 145359
13 Jeep Cherokee 2001 219065
14 Mitsubishi Canter 2007 165036
15 Nissan Altima 2010 449313
16 Kia Cerato 2011 446919
17 Kia Cerato 2011 437871
18 Nissan pickup 2003 23414
19 Chevrolet Blazer 2005 340993
20 Nissan Urvan 2010 211731
21 Hyundai Atos 2003 129108
22 Toyota Fortuner 2006 318776
23 VXR 2009 5299

Qatar Islamic Insurance company discloses interim financial statement for the three month period ended March 31, 2011

Qatar Islamic Insurance Company disclosed the interim financial statement for the three month period ended March 31, 2011. The financial Statements reflects that the Company achieved shareholders’ net profit of QR 21.5 Million representing Earnings Per Share of QR 1.43 for the first quarter 2011 against QR 14.3 Million and QR 0.95 Earnings per share respectively for the corresponding period in 2010 with an increase of 50% comparing with the same period for the last year 2010.