Taka­ful Oman wins AIWA Best Per­form­ing Com­pany Award

Times of Oman - - ROUND-UP -

MUSCAT: Taka­ful Oman, a pi­o­neer of Taka­ful ser­vices in Oman re­ceived the AIWA Best Per­form­ing Com­pany Award for ‘Best Topline Growth in the Small Cap’ seg­ment.

The award, in­sti­tuted by Alam Al-Ik­ti­saad WalA’Mal (AIWA) busi­ness magazine, recog­nises the top achiev­ers in Oman’s cor­po­rate world. The award was re­ceived at the cer­e­mony held re­cently at Ho­tel Sher­a­ton Oman mark­ing the sev­enth edi­tion of the AIWA Awards. The award cer­e­mony was held in the pres­ence of dig­ni­taries, with over 150 in­dus­try lead­ers and se­nior gov­ern­ment and pri­vate sec­tor of­fi­cials. Eng. Ahmed bin Hassan Al Dheeb, un­der­sec­re­tary of the Min­istry of Com­merce and In­dus­try, was the chief guest, for the evening.

“It is a proud mo­ment for all of us and we are hon­oured to re­ceive the award for ‘Best Topline Growth in the Small Cap’. It is the hard work and com­mit­ment of ev­ery em­ployee, the con­fi­dence of our stake­hold­ers and the trust of our cus­tomers that have helped us grow. And we share this mile­stone with each of them,” said O. G. Rav­is­hankar, gen­eral man­ager, Taka­ful Oman.

The awards are based on a survey of com­pa­nies listed on Muscat Se­cu­ri­ties Mar­ket (MSM) done by Gulf Baader Cap­i­tal Mar­kets (GBCM)and the re­sults were vali- dated by KPMG. The rank­ing of com­pa­nies was based on their per­for­mance in the last fis­cal year, tak­ing into ac­count a de­fined set of broad pa­ram­e­ters, in­clud­ing growth, re­turn ra­tios, pro­duc­tiv­ity and prof­itabil­ity ra­tios mea­sur­ing the growth and ef­fi­ciency of the com­pa­nies.

Since its in­cep­tion, Taka­ful Oman en­tered the mar­ket as an ex­pe­ri­enced com­peti­tor aim­ing at achiev­ing a lead­ing po­si­tion among other well-es­tab­lished in­surance providers. Over the past three years of op­er­a­tions, gross con­tri­bu­tions amounts have al­most tre­bled, while book­ing more prof­its than most of the well-es­tab­lished com­pa­nies in the sec­tor.

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