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(The Group’s Comments) Islamic Insurance's Net Profit
Climbs to QAR 48.28 Million for the First Half of 2019
August 04, 2019
Profits: Qatar Islamic Insurance Company’s
net profit amounted to about QAR 48.3 million for the first half
of 2019, compared to QAR 41.1 million for the same period of
last year, an increase of 17.5%, while its earnings per share
reached QAR 0.332 versus QAR 0.227 for the corresponding period
of 2018. As for the second quarter, the company posted a profit
of about QAR 23.5 million, compared to QAR 18.0 million for the
same quarter of 2018.
Revenues: Total revenues increased by 10.0% to
reach QAR 67.0 million, compared to QAR 60.8 million for the
corresponding period of 2018, due to the improvement of the
company’s wage revenues (a wage obtained for the management of
insurance operations, this wage is determined in coordination
with the Fatwa and Shari'a Supervisory Board) by QAR 7.0 million
to QAR 57.0 million, compared to QAR 50.5 million for the first
half of 2018. Revenues from speculative fees to shareholders
from the investment portfolio amounted to QAR 800 thousand. In
contrast, rental income declined by QAR 1.2 million and the
company did not record profits from associates, opposite to the
corresponding period of 2018, when the company achieved QAR
600,000.
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