Siraj Holding Company announced that it has acquired Al Hilal Takaful Company from Al Hilal Bank, which is wholly owned by the Abu Dhabi Commercial Bank Group.
The shareholders, the Securities and Commodities Authority and the Insurance Commission approved this deal, as it was completed in line with the requirements of all the relevant regulatory authorities.
According to the data available in "Arqaam", "Al Hilal" bank had indicated in January that it had agreed to sell "Al Hilal Takaful" company in order to exit from other non-major businesses and focus mainly on providing financial products and Islamic banking services to individuals.