The CEO of Dubai-listed Islamic insurer Salama has resigned, citing personal reasons, the company said on Friday. 

Fahim Al Sehhi, who was appointed in January 2021, will be replaced on a temporary basis by board member Ajit Vijay Joshi, who will oversee company business until a new CEO is appointed, Salama said in bourse filing. 

Last year, the company announced a merger with fellow Islamic insurer Takaful Emarat in October, as well as the acquisition of another, AMAN

Joshi previously served on the board of merger target Takaful Emarat but resigned in August 2022 citing personal reasons. 

Last month, Salama shareholders approved a capital reduction from AED 1.21 billion ($329 million) to AED 939 million. 

(Writing by Imogen Lillywhite; editing by Cleofe Maceda)