PHOTO
01 June 2016
Dubai - The General Annual Meeting of Mawaid Finance took place yesterday May 30th, at Grand Hyatt Dubai Hotel chaired by H.E Mr. Omran Al Owais. The meeting highlighted Mawarid Finance achievements in the 2015, and approved the work plan for this year in addition to several issues within the Agenda including approval the Financial Statements for year ended 31st December, 2015, and approval of 5% cash dividend to the shareholders.
Dubai - The General Annual Meeting of Mawaid Finance took place yesterday May 30th, at Grand Hyatt Dubai Hotel chaired by H.E Mr. Omran Al Owais. The meeting highlighted Mawarid Finance achievements in the 2015, and approved the work plan for this year in addition to several issues within the Agenda including approval the Financial Statements for year ended 31st December, 2015, and approval of 5% cash dividend to the shareholders.
Omran Al Owais, Chairman of Mawarid Finance Board of Director said "Mawarid Finance has been able to cope with the market changes through implementation of a steady strategy which resulted in outstanding results in 2015.
The revenues have increased in 2015 to 193% from AED.63.1 million dirhams to AED.184.8 million, this resulted in 10.2% increase in the total assets, from 1446.3 to 1593.6 million at the end of 2015.
The wakala deposit has increased by 44.7% from 263.3 million dirhams at the end of 2014 to 381.1 million at the end of 2015. However, the net profit of the parent company's shareholders has increased from 58.0 million dirhams in 2014 to 69.8 million dirhams in 2015 with growth percentage of 20.3%.
© Press Release 2016
