Wethaq Takaful Insurance Company will move to its temporary headquarters in Dokki on July 5th. The Company was destined to move at the end of last May, but such move was postponed because of the delay in equipping and decorating the headquarters, said Abdel Aziz Labib, financial director of Wethaq. There are still negotiations over choosing a general manager for the Company's branch in Nasr City which is slated to be opened in the upcoming period, increasing the number of branches to six besides the headquarters, Labib added. After discussing the Company's financial position at the end of the current fiscal year, Wethaq will send some amendments of insurance policies to the Egyptian Financial Supervisory Authority (EFSA) to be approved, said Mohamed Abdel Mawla, assistant director of technical department at Wethaq. Besides, Wethaq awaits EFSA's approval over the amendments made by the company to the fire insurance policy, excluding the marine insurance policy, to be in accordance with the unified conditions issued by the Insurance Federation of Egypt, Abdel Mawla added. It is worth mentioning that Wethaq Takaful Insurance Company will move to its new headquarters in Mohandseen in three years after the headquarters is built on a land worth EGP 10 million. Wethaq Takaful Insurance Company's profit registered EGP 5.16 million at the end of Q3 FY 2011/2012.
