Amana Takaful Maldives begins to sell shares
20 Sep 2011

MALE, September 20  – Amana Takaful Maldives Public Limited officially launched its Initial Public Offering (IPO) last evening.

At a special ceremony held at Nasandura Palace Hotel, the only Shari’a-compliant insurance company in Maldives announced that shares would be sold for about a month commencing today.

Speaking at the ceremony, Amana Takaful’s CEO Hareez Suleiman said the company would provide more insurance policies in the future for Maldivians. Islamic Insurance is directly linked to the Maldives as it is a 100 percent Muslim country, he added.

The IPO will see the floating of 800,000 shares to the public in parcels of 25 shares at Rf20 per share and is expected to provide Rf16 million in profit to the company.
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