New members have been elected to the Takaful International Company board, it was announced yesterday (April 8).

The new chairman is Murad Ali Murad and Khalil Ebrahim Nooruddin is the vice-chairman, said a report in the Gulf Daily News (GDN), our sister publication.

Khalid Saoud Al Hasan, Othman Al Askar, Jamal Al Hazeem, Ebrahim Al Rayes and Ebrahim Hussain Aljassmi are the other members on the board.

The announcement follows the company's annual general meeting.

The meeting approved financial statements and also based on majority recommendation, the election of the new members for the next three years.

The company also said that Bahrain Kuwait Insurance Company has become its major shareholder with a total stake of 41 per cent, followed by Bahrain Islamic Bank with increased holding of 22.75 per cent and the Kuwait Awqaf Public Foundation with 8.4 per cent. - TradeArabia News Service