Al Madina Takaful
| Company type | Public |
|---|---|
| MSM: AMAT MSM 30 component | |
| Industry | Takaful |
| Founded | 15 May 2006 |
| Headquarters | , Oman |
Key people |
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| Products |
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| Revenue | RO23.1 million (2014) |
| RO1.0 million (2014) | |
| Total assets | RO46.8 million (2014) |
| Total equity | RO20.9 million (2014) |
| Website | www |
Al Madina Insurance Company SAOG (commonly known as Al Madina Takaful, Arabic: المدينة تكافل) is an Omani takaful company.
It was founded in 2006 as an insurance company. In 2014, the Capital Market Authority granted Al Madina a takaful license. Al Madina then converted all its insurance business to become Sharia-compliant and became the first takaful company in Oman.
After the conversion, Al Madina embarked on acquisitions to expand its operations. In 2014, it invested in a 9.5 percent stake (along with its major shareholder MB Holding) in Abu Dhabi–based takaful operator Watania for AED 17.9 million.
In 2014, Al Madina had a customer base of 37,000 policyholders.