A ruling in favor of “Aman” to recover 11.3 million dirhams from a previous administration

Dubai Islamic Insurance and Reinsurance Company “Aman” said the Dubai court ruled in favor of the company to recover Dh 11.3 million from the company’s previous management.
The company added, in a communication to the Dubai Financial Market, that it has taken all executive measures regarding the recovery of the amounts detailed in the company’s financial statements as at 30 June 2022. The company has confirmed that this amount will have a positive impact on the financial statements of the company. society.
According to item 26 of the financial statements, the former CEO of the group resigned on 10 July 2013 and the group entered into an agreement with him on 9 July 2013, to repay or transfer part of the equity investments held for the benefit of the group. As at 30 June 2022, the equity investments have not been transferred to the legal ownership of the group, therefore the company has started legal procedures for the recovery of the amount, which has been fully allocated.