Appointment of GM

 

 

The Board of Director of Saudi IAIC Cooperative Insurance (SALAMA) has appointed Mr. Shahzad Hafeez as the General Manager, after receiving Saudi Arabian Monetary Agency (SAMA) approval on (21/12/2009). Mr. Shahzad Hafeez is a Chartered Insurer and an Associate of the Chartered Insurance Institute (ACII), London. He also holds an MBA degree from the Institute of Business Administration - Punjab University, Pakistan. Prior to joining IAIC, Mr. Shahzad has held senior positions in other renowned insurance companies including AIG. He joined the Islamic Arab Insurance Company (IAIC Bahrain) at their Head Office in Jeddah, Saudi Arabia in 2001 as Underwriting Manager, and in 2003 was promoted to the position of Assistant General Manager and Head of Operations Division.

Appointment of GM (Acting)

 

 

The Board of Directors of Saudi IAIC Cooperative Insurance (SALAMA) has accepted the resignation of Mr. Khaled Salem Barboud from the post of General Manager, submitted by him due to personal reasons, with effect from 05/05/1430H (corresponding to 30/04/2009 G).   Mr. Shahzad Hafeez has been appointed as the General Manager (Acting) with effect from 06/05/1430H (corresponding to 01/05/2009G). Mr. Shahzad was already working with the company as Assistant General Manager and Head of Operations Division. Mr. Shahzad Hafeez is a Chartered Insurer and an Associate of the Chartered Insurance Institute (ACII), London. He also holds an MBA degree from the Institute of Business Administration - Punjab University, Pakistan. Prior to joining IAIC, Mr. Shahzad has held senior positions in other renowned insurance companies including AIG. He joined the Islamic Arab Insurance Company (IAIC Bahrain) at their Head Office in Jeddah, Saudi Arabia in 2001 as Underwriting Manager, and in 2003 was promoted to the position of Assistant General Manager and Head of Operations Division.

Appointing The GM

 

 

The board of directors of Saudi IAIC Cooperative Insurance Company (SALAMA) has confirmed assignment of Mr. Kahlid Barboud as GM for the company, during their meeting at the Company’s Head Office in Jeddah on 26/1/2008.   Mr. Khalid has a bachelor’s degree in Business administration from King Abdulaziz University in 1989.    He obtained a certificate in insurance practice from Tawuniya (NCCI) in 1991.    In 1997, Mr. Khalid got “COP” certificate from “CII”, UK.    In addition, he got a certificate in insurance engineering form Bahrain Banking & Finance Institute in 1993, besides training courses from “Swiss Re” in Switzerland & “Generali” in Italy.   Mr. Khalid has broad experience in Insurance Industry where he occupied Assistant General Manager position in “Royal & Sunalliance” “KSA” for five years, General Manager of “Oasis Insurance Co.” for five years, Sales-Managing Director of “Tokyo Marine” “KSA” for one year & Senior Underwriter in Tawuniya (NCCI) for six years.    Besides the insurance experience, Mr. Khalid has also management experience in Ministry of Telegraph, Post & Telephone for five years.

 

 

Forming the Formation General Assembly for Saudi IAIC Cooperative Insurance Company (SALAMA) 

 

General Assembly took Place on May 1^st, 2007

 

 

Appointing the MD & CEO for the Company

 

  

After the First Board Meeting of the Saudi IAIC Cooperative Insurance Company (Salama) that took place on the 1st of May, 2007, Board Chairman has given an order to appoint Mr. Faisal M. Al Kordi as the Managing Director & the Chief Executive Officer CEO for the company effective May 1st, 2007. Mr. Al Kordi has accumulated a total of 25 years of experience in the financial and economic field in general and in the Islamic banking system in particular. Mr. Al Kordi Carries a master degree in Economics from North Carolina University – USA in addition to his rich experience in the Saudi Market.

 

 Salama Group Top Management Meeting

Under the auspices of HE Sheikh Khalid Bin Zayed Al Nahayan, President of Salama Group, and Dr. Saleh Malaika, Vice President of the Group, the Saudi IAIC Cooperative Insurance Company – Salama hosted the Group Semi-Annual Meeting in Jeddah on June 7-8, 2007. The objective of the meeting is to review results of Salama companies during the previous six months and studying plans for coming period. Attendees of the meeting included: Mr. Farid Bin Bouzid, MD of BEST Re in Tunis, Mr. Abdelraouf Kotb, Vice Chairman &  MD of ESIH in Egypt, Mr. Parvaiz Siddiq, GM of Salama Arab Ins. Com. In UAE, Mr. Ibrahima Cissei,  GM of SOSAR in Senegal, Mr. Imran Hyder, CFO of the group as well as executives from all participating companies.

 

 

Listing the Saudi Salama Share in the Saudi Stock Market

Capital Market Authority has announced the listing of Saudi IAIC Cooperative Insurance Company – Salama in the Saudi Stock Market among the insurance sector with the symbol of 8050 starting on Monday June 18, 2007 from 10:15 am till 3:30 pm.