United Arab Emirates-Dubai: The Board of Directors of Islamic Arab Insurance Company (“SALAMA”), the UAE’s largest Shari'ah compliant Takaful solutions provider, today announced the appointment of Fahim Al Shehhi as its new Chief Executive Officer.
Fahim succeeds Parvaiz Siddiq, who recently stepped down as CEO, having been in the role since 2018 and with the company since 2016.
SALAMA is the largest Sharia’h compliant Takaful operator with ‘AAA’ level capital adequacy as per S&P.
Jassim Alseddiqi, Chairman of SALAMA, said: “On behalf of the Board, I’m pleased to welcome Fahim to SALAMA. Fahim brings a strong track record of transforming businesses both at an operational and a strategic level which will help him drive SALAMA’s next phase of growth as a modern, customer-focused company. Fahim in his new role will bring his cross-sector experience to work with the Board to accelerate SALAMA’s growth strategy, driving core business profitability and investment income, while maintaining the company’s market-leading position in the UAE Takaful market. I would also like to take the opportunity to thank Parvaiz for his valuable contribution to the company.”
Fahim Al Shehhi commented: “I have followed SALAMA’s growth trajectory from the outside and have been impressed by the company’s evolution as it has continued to lead the Islamic insurance sector with its customer-centric products and services that have won it many industry accolades over the years. I am excited to be part of the SALAMA team and look forward to working with the board, employees, customers and other partners to build on SALAMA’s strengths and drive the company to even greater levels of success, firmly supported by strong business practices and technology-driven solutions.”
Fahim joins SALAMA from Abu Dhabi National Energy Company (TAQA) where as VP-Business Development, he built commercial relationships and led the optimisation of the capital investment process and performance. He is also a Board Member and Managing Director for Massar Solutions. Previously, Fahim held senior management roles within the Department of Economy in Abu Dhabi, Etisalat Group and also served as a non-executive Board member for Takaful Emarat Insurance.
In December 2020, SALAMA revealed its new brand identity to reflect the company’s future strategic plans. SALAMA is also one of the few Takaful companies to return surplus cash to eligible policyholders, with the latest cash return announced in August 2020.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
