Doha – Mubasher: Qatar Islamic Insurance Company decided in a board meeting to increase its stake in Qatari Unified Bureau Insurance (QUBI) to 25% from 20% in a deal worth QAR 6.75 million ($1.85 million).

The company said on Sunday that it is in the process of concluding this deal.

QUBI is a limited liability company which provides insurance on vehicles entering the country and sell insurance cards for vehicles traveling outside the country.

The stock rose in today’s early trading by 1.52% to QAR 59.84 ($16.44).