Beema Board of Directors recommends 10% dividend to shareholders

Beema aims to restructure the management of its investment portfolios in view of its transformation into a public joint stock company and listing on Qatar Stock Exchange, said chairman Sheikh Jassim bin Hamad bin Jassim bin Jaber al-Thani. 

Beema (Damaan Islamic Insurance Company) Board of Directors has recommended 10% of the nominal share value as dividend to shareholders, totalling QR20mn.At the company’s ordinary annual general assembly, the Board of Directors has also recommended distributing 7% to policyholders who have no claims recorded in 2021.Addressing the shareholders, Beema chairman Sheikh Jassim bin Hamad bin Jassim bin Jaber al-Thani said, “2021 was an exceptional year by all standards, as Damaan Islamic Insurance Company was able to respond to the consequences of the (Covid-19) crisis with flexibility and effectiveness that proved its ability to overcome the most severe crises and their consequences. Thanks to its strategy, Beema is now in a stronger financial position than ever before.”Sheikh Jassim said, “Beema's focus this year was on achieving strategic growth in the insurance business and upgrading the level of services. Beema managed within a short period to raise the degree of its solvency. It remains as one of the best Takaful insurance companies in Qatar.In view of Beema’s transformation into a public joint stock company offering its shares for public subscription and listing on the Qatar Stock Exchange under directives from the Qatar Central Bank, Beema aims to restructure the management of its investment portfolios.He said Beema has complied with the requirements and principles of corporate governance in accordance with the principles of corporate governance for insurance companies – issued by Qatar Bank.On behalf of Beema Board of Directors Sheikh Jassim expressed highest gratitude and appreciation to His Highness the Amir and HE the Prime Minister for their support and encouragement to the company.In December Beema’s extraordinary general assembly had approved the listing of the company shares on the Qatar Stock Exchange (QSE).