Mubasher: Qatar Islamic Insurance Company (QISI) on Wednesday announced that its board of directors has received an approval from the Qatar Central Bank (QCB) to change its name to the Group Islamic Insurance Company (GIIC).
The central bank also approved establishing a real estate company, that will be 100% owned by the group, according to the company’s statement to the Qatar Stock Exchange (QSE).
The board also nodded to continue the necessary procedures and raised recommendation to the extraordinary general assembly meeting to amend the Articles of Association of the company in accordance with the regulations and instructions regulating it.
QISI’s net profits grew 14% to QAR 41.12 million in the second quarter of 2018, compared to QAR 36.07 million in the prior-year period.
By the end of Wednesday's session, QISI's stock rose 2.78% at QAR 55.15.
