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16-04-14

Dubai's Takaful may post profit for Q1

(MENAFN) Dubai-based Islamic insurer Takaful Emarat said it forecasts a profit for the first three months of this year and an annual profit by the end of the coming December for the first time since it was founded in 2008, according to Arabian Business. Chief executive of Takaful Wael Abdul Razzaq Al Sherif said: "We will be moving from red to green." The expected profit for the first quarter will not be disclosed because of listing rules, said Sherif. The company's past financial statements show it last reported a quarterly profit in the first quarter of 2009 with USD28,628.