Syrian Islamic Insurance Company Officially Opens for Business

-- The Syrian Islamic Insurance Company officially opened with representatives of economic, financial and investment activities from Qatar and Syria attending the opening.

In a statement to the Press, Minister of Finance Dr. Mohammad al-Husein underlined the importance of joint insurance companies for the Syrian insurance market as they address the needs of many Syrians since they cover all fields of insurance.

"The Syrian Islamic Insurance Company is the result of joint efforts and cooperation between Syria and Qatar. It is a joint-stock company with a capital of SP 1 billion, 54% of which belongs to the Qatari side and 46% to the Syrian side," the Minister said, noting that there are currently four branches of the company, and that it will expand soon.

There are currently 13 Syrian insurance companies, including the Syrian General Insurance Establishment, two joint insurance companies, and ten regular insurance companies.

The opening was attended by founder of Qatar International Islamic Bank Sheikh Ali bin Abdullah Al Thani, Chairman of the Board of Directors of International Islamic Bank Sheikh Khalid bin Thani Al Thani, Chairman of the Qatari Islamic Insurance Company Sheikh Abdullah bin Thani Al Thani, the Qatari Ambassador in Damascus, Director of the Syrian Insurance Federation Suleiman al-Hassan, Director General of the Insurance Supervisory Agency Iiad Zahraa, and representatives of economic and insurance activities.