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Solidarity in Islamic finance growth push

Manama, April 2, 2014

Bahrain-based Solidarity Group Holding's shareholders have been told that the company's business model has proved successful.

Addressing shareholders, Solidarity Group chairman Khalid Abdulla Janahi yesterday said the company remained committed to becoming the world's leading international Islamic-oriented financial-service group, reported the Gulf Daily News, our sister publication.

The meeting agenda included review of the minutes of the previous Annual General Meeting and its approval, as well as approval of the financial statements for the financial year ended December 31, hearing the reports of the external auditors and the Sharia Supervisory Board.

A new board of directors has been elected for a three-year term.

"During 2013, the group completed 10 years of operations and celebrated its 10th anniversary on December 12, 2013 with a story of success and growth," stated Janahi.

"The company is operating and investing strategically in the Middle East and North Africa region and Asia by providing a range of Sharia-compliant Islamic insurance and related products through our subsidiaries and associates," stated Janahi.

"We will continue to explore strategic expansion options, specifically in our target markets.

"We are glad the shareholders believe that Solidarity has laid down a strong foundation through which it can implement the group's strategic plan and explore new potential opportunities," he said

Solidarity Group vice-chairman Rashed Al Meer said the group's success originates from "the investment-friendly environment complemented with the high level of professionalism which are key features of Bahrain, not only from the regulatory authorities but also from the financial services sector as a whole."-TradeArabia News Service
 




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