Dubai Islamic Insurance and Reinsurance Company (Aman) has decided to give five per cent shares as bonus for its shareholders after reviewing the results at the company's ordinary AGM meeting in Dubai.

The AGM was held under the chairmanship of Mohamed Bin Omeir Bin Yousif Al Muhairi, Aman chairman, at Emirates Towers in Dubai on Tuesday.

Hussein Al Meeza, managing director and CEO of Aman as well as members of the Governing Council attended the meeting which saw the reappointment of auditors for the fiscal year 2010 and the fixing of remuneration for the auditors.

Referring to the last year's financial results, Al Muhairi said the company was confident of achieving net profits of Dh20.57 million ($5.6 million) in 2009, despite the repercussions of the global economic crisis and its impact on the overall economic situation in the region.

'The general assembly was briefed on the board of directors report for the financial year of 2009.  The report of the Fatwa and Shari'a Supervisory Board of the company for the same period was also presented, as was the Auditors Report on the balance sheet and profit-and-loss account for the financial year of 2009,' he added.

Aman chairman was optimistic on this year's results and said '2010 will be a year of remarkable improvement and an increase in profit due to the adoption of a security strategy based on increasing the volume of business insurance and diversification of investments.'

According to him, Aman Insurance was keen on developing products to ensure conformity with Islamic Shari’a rules which meet the needs of its clientele, from private individuals to leading international institutions.

The company's extraordinary AGM will be held on March 23, he added.-TradeArabia News Service