March 23 , 2010,
Dubai, UAE

Amendment of the company's regulations will provide greater transparency in accordance with the requirements of Islamic Insurance

Dubai Islamic Insurance and Reinsurance Company (Aman) held their extraordinary AGM meeting headed by H.E. Mohamed Bin Omeir Bin Yousif Al Muhairi, Chairman of Aman, which was also attended by Hussein Al Meeza, Managing Director and CEO of Aman, as well as members of Aman Governing Council, held in the Godolphin Ballroom of Emirates Towers in Dubai on March 23. During the meeting, participants decided to amend the statute of the company in accordance with Resolution No. 518 / 2009 regarding controls on governance and institutional standards of discipline. The action included the addition of the Corporate Governance regulations issued by the Securities Commission in the UAE in April of 2007, which are to be adopted by financial institutions listed in the capital markets.

H.E. Mohammed bin Omair bin Yousef Al Muhairi, Chairman of Aman, chose the forum as an opportunity to highlight the importance of applying standards of Corporate Governance. “One of the key motivations for the amendment is to provide more comprehensive disclosure of the inner workings of Aman in a timely fashion—including financial position, performance, and property rights,” commented Al Muhairi. The application of enhanced Corporate Governance practices will lead the company to show more transparency and credibility in financial markets, and provide protection for shareholders in partner companies. This will also facilitate companies in exercising their legal rights and ensuring equal treatment of all shareholders as the Governing Council exercises effective overview of the company's Management and Board of Directors.

The Securities Commission in the UAE had granted financial institutions listed in the capital markets with three years to implement the application of Corporate Governance controls, ending on April 30, 2010. The Board of Aman believes that the governance controls, and the responsibilities of the company’s boards, commissions and auditors, are a strategic option that will ensure the protection of the company’s interests and customers while strengthening the national economy.