Dubai, April 25, 2023: Islamic Arab Insurance Company (“SALAMA”), the UAE’s largest Shari’ah-compliant Takaful solutions provider, today announced the appointment of a new Chairman and Vice Chairman to the Board of Directors, as well as a distinguished board of directors for a term of three years following the company’s Annual General Meeting (AGM). The AGM also marked the appointment of the first female board member on SALAMA’s board.
The board elected H.E. Saeed Mubarak Rashed Saeed Alhajeri as Chairman and H.E. Mohammed Ahmad Mohammed Bin Abdulaziz AlShehhi as Vice Chairman.
The new Board of Directors includes H.E. Saeed Mubarak Rashed Saeed Alhajeri, H.E. Mohammed Ahmad Mohammed Bin Abdulaziz AlShehhi, Mr. Fraih Saeed Helal Fraih Alqubaisi, Mr. Saeed Bin Mohammad Al Qassimi, Mr. Ahmad Mohammad al Sadah, Mr. Ajit Vijay Joshi, and Mrs. Maha Abdul Majeed Ismail Ali Al-Fahim.
The appointment of the first female board member at SALAMA is a significant milestone and reflects the UAE’s efforts to promote gender diversity and empower women in leadership positions.
SALAMA welcomes H.E. Saeed Alhajeri as its new Chairman of the Board of Directors. With over 27 years of experience in international finance, H.E. Alhajeri is highly regarded and respected in the industry. H.E. Alhajeri’s expertise extends to the Abu Dhabi and UAE government entities, where he also serves as a Board member. He holds a Bachelor of Business Administration from Lewis & Clark College in the United States and is a Chartered Financial Analyst (CFA). In 2007, he was elected as one of the top 250 Young Global Leaders by the World Economic Forum for his notable contributions to the public and financial sectors in the United Arab Emirates.
The AGM also marked end of tenure for former Chairman Mr. Jassim Alseddiqi, as a board member, who decided not to reelect himself for the next term. The board conveyed its sincere appreciation to Mr. Alseddiqi for his unwavering dedication and relentless efforts to improve the financial strength and corporate governance of SALAMA. Under his leadership, SALAMA achieved significant milestones, such as strong corporate governance, cash dividend payments for the first time and reorganizing the business around core geographies. During his tenure, SALAMA proved its resilience by overcoming challenges, including the global pandemic, and emerged stronger. The company has been recognized with over 20 awards for its Takaful leadership and has successfully expanded its digital channels, providing easy online access to Takaful products for individual customers.
“I am honored to be appointed as the Chairman of the Board of Directors of SALAMA, and I am confident that with the support of our distinguished board of directors and the management team, we will continue to achieve strong growth and success in the Takaful insurance industry. We remain committed to maintaining the highest levels of transparency, trust, and customer satisfaction, and we are grateful to Mr. Alseddiqi for his tireless efforts towards SALAMA’s success. With our collective expertise and leadership, we are pleased to guide SALAMA’s growth, and we will continue to provide exceptional Takaful insurance products to our customers while upholding the highest standards of governance.” said H.E. Saeed Alhajeri, Chairman of the Board of Directors.