Dubai – Mubasher: Dar Al Takaful changed its trade name and object to Watania International Holding, an investment holding firm.
The DFM-listed company's shareholders greenlighted the rebranding during the general assembly meeting that was held on 27 March 2023, according to a bourse disclosure.
The change reflects a new corporate identity following the merger between Dar Al Takaful and National Takaful Company (Watania) which aimed to bring all business lines under the Watania Takaful moniker.
Dar Al Takaful will continue trading its shares on the Dubai stock exchange under the name “DARTAKAFUL”. However, the company will change its ticker name after implementing further regulatory procedures.
It is worth noting that the merger process was completed on 1 July 2022 after obtaining the approval of the shareholders last April.
Ali Saeed bin Harmal Aldhaheri, Chairman of Watania International, said: “A key objective for Watania International Holding, as an investment holding company, is to strengthen the Takaful industry by establishing a sustainable ecosystem encompassing a portfolio of interrelated businesses that create value for all its stakeholders – policyholders, shareholders, and its members.”
