Tuesday , August 4 2020

Salama to raise foreign ownership limit to 49%

Dubai / WAM

The Islamic Arab Insurance Company PSC (Salama) has received all necessary regulatory and internal approvals to increase Foreign Ownership Limit (FOL) from 25 percent to 49 percent as per Securities and Commodities Authority (SCA) Certificate.
A company statement posted on Dubai Financial Market (DFM) website, said Salama has contacted Dubai Central Securities Depository to start the necessary procedures to activate the above mentioned increase in the Foreign Ownership Limit.
Accordingly, a disclosure about activating the decision will be published upon applying it on the Market regulations and website. The DFM-listed company posted a net profit of AED55 million in 2019.

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