Doha – Mubasher: Qatar General Insurance and Reinsurance Company’s board of directors agreed to raise the capital of its fully owned subsidiary, General Takaful Company, by 50% to QAR 150 million from QAR 100 million after getting regulatory approvals.
The capital increase is aiming at enhancing the company’s solvency and expanding its activities, according to a bourse filing.
The board also approved to increase the credit facilities of Orientals Enterprises Company by QAR 40 million to QAR 140 million.
The increase aims to secure the necessary letters of guarantees and letters of credit to facilitate the company’s operations in the construction fields.
