Arab Orient Takaful Pumps EGP22mn to Increase Capital to EGP100mn

Managing Director of Arab Orient Takaful Insurance Mr. Mohamed Abdel Gawad said his company has pumped EGP22 million as an increase of its paid up capital to reach up EGP100 million.

Speaking to Amwal Al Ghad Abdel Gawad explained that shareholders have injected this increase entirely, noting that EGP35 million pumped during the last year through 3 phases.

Arab Orient finanlised inaugurating 2 new branches in Heliopolis and Port Said.

The company postpones the cooperation with the banks to promote its insurance products as this marketing field has a highly cost for the company in the light of the current economic conditions Abdel Gawad added.

It is expected that the insurance sector will witness prosperity due to the political and economic stability that led to the improvement of economic conditions , the entry of fresh investments in addition the contribution in increasing the size of insurance premiums.