The only Shariah-compliant business entity, listed in the Maldives Stock Exchange, Amana Takaful Maldives PLC has recently concluded its seventh Annual General Meeting.

The companys strong financial results in 2017 included a profit before tax of MVR 3.9 million in the Shareholders Fund and a consolidated profit of MVR 6.7 million which marks a growth of over 87.5 percent and 228 percent respectively compared to the previous year.

The Net Earned Contribution increased by 29 percent to MVR 62.2 million over 2017, due to a combination of factors, principally, through robust capabilities in our distribution channels.  The performance growth of the fund was driven by prudent rate revisions, technology-driven solutions, strengthening the channels, optimisation of investment returns, efficient claims and cost management.

"We are pleased to produce exemplary results year on year. The three-year business plan which concluded in 2017 was executed successfully. The impressive consolidated profit before tax of MVR 6.7 million is a 228 percent growth compared to the previous year. "Stated the Chairman of the Board, TyeabAkbarally.

"Although a frenzy of industry rate-cutting was witnessed in 2017, compared to any previous year for short-term market gain, as the pioneer in Islamic Finance in the Maldives, we re-assure all stakeholders, that we will steadfastly uphold the highest levels of Corporate Governance and Ethical Conduct."

Amana Takaful Maldives also declared dividends for the seventh year in succession. Along with the interim dividend payout in August 2017, a final dividend has now been approved at the AGM. In total, a 10% dividend on the face value of shares shall be paid for the period ended 2017.

According to Amana Takaful Maldives, the closure of the books for dividend distribution will be held on 15th May. Shareholders in the register as of that date will be eligible for the dividend.

Furthermore, shareholders of Amana Takaful Maldives decided to re-elect Dr Abdullah Shiham Hassan as an Independent Director at this years AGM.

The present directors of the company are TyeabAkbarally as Chairman, Osman Kassim, DatoMohdFadzli Yusuf, M.H.M Rafiq, Dr.AbdullahShiham, Abdullah Kassim, and HareezSulaiman as Managing Director.

"We have completed yet another remarkable year. Our growth strategy was underpinned by a fervent desire to meet and exceed the expectations of the market." Commented Managing Director Hareez Sulaiman.

"We are grateful to our loyal customers, business partners and regulators for their unwavering support and encouragement, in sustaining this growth."

AGM was concluded with the decision to provide personal accident cover for all individual Shareholders. Shareholders will receive a communication in this regard.