Takaful Oman
TAOI
TAOI
We would like to announce that the Audit Committee and Board Meeting of Takaful Oman Insurance SAOG was held on January 21, 2015 (Wednesday). The Board has approved the Audited Financial Statements for 2014.
1) Statement of Shareholders Comprehensive Income
| Particular | Amount - RO |
| Wakala fee | 203,832 |
| Profit on deposit and bank balances | 104,812 |
| Fair value loss on financial asset through profit or loss | (79,874) |
| Total Income | 228,770 |
| General and administrative expenses | (692,632) |
| Details of Income and Expense | (463,862) |
| Pre-operating expenses | (142,293) |
| Loss before tax for the period | (606,155) |
| Taxation | 87,331 |
| Loss and total comprehensive loss for the period | (518,824) |
2) Statement of Participants Revenue and Expense
| Particular | Amount - RO |
| Gross contributions | 582,377 |
| Net retained contribution | 206,884 |
| Total takaful revenue | 116,595 |
| Net claims incurred | 36,834 |
| Total takaful cost | 117,316 |
| Wakala fee | (203,832) |
| Deficit from takaful operations | (201,482) |
3) Statement of Financial Position of Shareholder & Policyholder
| Particular | Amount - RO |
| Non-current assets | 8,538,937 |
| Current assets | 1,789,119 |
| Total Assets | 10,328,056 |
| Capital and reserves | 9,481,176 |
| Participants’ fund | (201,482) |
| Non-current liabilities | 8,822 |
| Current liabilities | 1,039,540 |
| Total liabilities | 10,328,056 |
Source:
Muscat Exchange News
