Takaful International reports profit
The net profit of the shareholders after tax was BD 422K for the three months ending on March 31, 2025, compared with a net profit of BD 393K for the same period in the previous year. Comparatively, earnings per share for the three months ending on March 31, 2025 increased to 4.96 Fils from 4.62 Fils for the same period in the previous year. The Company reported a total net profit before tax of BD 639K during the first quarter of the year 2025 compared to BD 546K for the same period in the previous year, an increase of 17%.
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Daily Tribune
39 minutes ago
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Shrimp shock as scarcity stings seafood lovers
Opening day brings high prices, small catches, and growing fears for the season ahead • Local shrimp sold at BD 3/kg due to low supply and smaller sizes • Boxes that once sold for BD 40 now fetch up to BD 110 • Unpredictable yields are casting a shadow over the 2025 shrimp season 'We didn't expect such a weak start this year to the shrimp season.' These words by a fish vendor hung in the humid air of the Manama market, echoing a sentiment shared by many. On what should have been a promising opening day, the baskets of Bahraini shrimp were underwhelming — in both size and quantity. 'The supply was so low that we were forced to sell even the smaller-sized shrimp at BD 3 per kilogram,' he said, his tone a mix of resignation and disbelief. He wasn't alone. Across the market, sellers shook their heads as regulars asked the same question: Where are the shrimp? According to the fisherman, the much-anticipated start of the local shrimp season has delivered an unexpected shock to seafood lovers in Bahrain. 'Neither is there abundance, nor is there affordability,' he added with a pale smile, doing little to disguise his disappointment. From ban to boom — or not quite Bahrain's shrimp-fishing ban is a six-month annual closure, from February 1 to July 31, designed to give marine stocks time to recover. The rules are strict, covering not just fishing but also trading and sales during the closed season. Each year, the first week of August is met with excitement. Markets reopen to fresh local shrimp, and expectations are high. But this year, that optimism was quickly drowned by scarcity. A price that doesn't taste right In 2024, market prices for local shrimp hovered between BD 2.20 and 2.50 per kilogram. But by the time stalls reopened in 2025, the same quantity was fetching BD 3 or more — and for shrimp much smaller in size. Several shoppers at the market told The Daily Tribune that the current supply was the weakest they'd seen in years. Boxes that would normally sell for BD 40 are now being priced at BD 110, one trader said. 'And even then, the shrimp are small, soft, and nothing like what people expect from Bahraini waters.' 'The big ones are buried under the small,' another vendor joked, poking at a crate with a tired grin. Imported shrimp, buyers noted, is cheaper — but most agree that nothing beats the taste and texture of local catch. That's what makes this season's price hike even harder to swallow. Shrinking boats, rising costs Behind the shortage lies a deeper concern: a fishing community under pressure. 'Our fishermen are growing weaker every year,' a long-time seller observed, pointing to rising fuel costs, fewer young people joining the trade, and relentless economic headwinds. Many traders had stocked up in anticipation of the season's reopening — preparing for crowds, confident in demand. What they didn't prepare for was this kind of supply. 'Everyone was shocked,' said one vendor. 'We waited six months for this. It's like the sea forgot us.' Looking ahead Retail shrimp prices in Bahrain have been steadily rising, driven by inflation, fishing restrictions, and dependence on imports. While imported shrimp may cost less, Bahraini shrimp continues to command a premium — not just for its freshness, but for what it represents to local culture and cuisine. But if supply continues to shrink and prices keep rising, many wonder: will next year be any different? For now, fishermen and buyers alike are left with little more than small shrimp and big doubts.
Biz Bahrain
a day ago
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Seef Properties reports Bd2.7 Million Net Profit Attributable to shareholders of the parent for the six-month period ended 30 June 2025
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Daily Tribune
2 days ago
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Takaful International Pioneers Surplus Distribution, Upholding the Principle of Mutual Participation
Manama In a groundbreaking initiative that reflects a deeper commitment to ethical responsibility and financial empowerment, Takaful International Company proudly announces the distribution of Surplus to its valued policyholders — an unprecedented step in the Takaful market. This announcement underscores the strength and sustainability of the company's cooperative model, built on the principles of mutual support, Sharia compliance and transparency in the management of the insurance portfolios. These distributions are made in accordance with the business model adopted in the Kingdom of Bahrain for Takaful companies, which mandates the distribution of any surplus from the Takaful funds—comprising contributions (premiums)—in excess of the funds' requirements, after setting aside the necessary reserves and technical provisions. The surplus in Takaful insurance companies represents the remaining balance in the participants' fund after accounting for total contributions, investment returns, and any other entitlements, following the deduction of the company's management fees (Wakala fee), the Mudarib's share, settlement of approved claims, payment of re-Takaful contributions, and any other obligatory charges. The surplus distributions cover all motor and property policies for the underwriting year 2024, regardless of the claims history associated with these policies. Takaful International Company maintains a stable financial position and holds the highest credit rating in the Kingdom, having recently been assigned a credit rating of A- by the global rating agency AM Best. 'Our slogan for this campaign, 'Powered by Sharing', is not just a phrase — it's a philosophy we live by,' said Mr. Essam Al-Ansari, Chief Executive Officer of Takaful International Co.. He further added, 'We are proud to announce the distribution of Surplus to our policyholders — a move that not only reflects our strong financial standing but also the true spirit of Takaful. At the heart of this initiative is our belief that when we do well, our policyholders should benefit directly. This is what sets us apart in the insurance industry — our success is shared, not siloed. We thank our customers for their continued trust and invite them to enjoy the rewards of a system that's designed to serve them.' The distribution process is carried out under the supervision of the company's Shari'a Supervisory Board, ensuring that all procedures comply with the principles and provisions of Islamic Shari'a. The process is conducted within a framework of transparency and fairness, and guided by the independent actuary, who reviews the company's technical data. Dr. Shaikh Abdul lati f Mahmood Al- Mahmood, Sharia'a Supervisory Board Chairman commented: 'The Surplus distribution reflects the true nature of Takaful — one rooted in mutual benefit, social solidarity, and justice. It reinforces the ethical values we champion and demonstrates the sustainability of our model. We are pleased to see these values translated into direct benefit for participants.' Redemption Options The Surplus amount may be redeemed through one of the following channels as per the preference of each participant (policyholder): 1. Bank Transfer – The Surplus can be transferred to a bank account upon submission of a valid IBAN certificate through the designated online platform. 2. Policy Renewal Discount – A discount may be applied to the next policy renewal, regardless of any claims made during the coverage period. 3. Charitable Contribution – The Surplus may be donated to a charitable cause. The donation amounts will be allocated to the Royal Humanitarian Foundation. The surplus redemption is available through the official company website (www. and the SMART Takaful application. Policyholders are eligible to redeem their Surplus within a period of five years from the date of the distribution announcement. Additionally, the surplus may be collected within three months prior to the expiry of the insurance policy. The Policyholders may visit the website or mobile application and enter their personal identification number or commercial registration number, along with either the vehicle number or policy number, to check their eligibility for a surplus refund.
