Muscat: Takaful Oman, a pioneer of Takaful services in Oman received the AIWA Best Performing Company Award for 'Best Topline Growth in the Small Cap' segment.
The award, instituted by Alam Al-Iktisaad WalA’Mal (AIWA) business magazine, recognises the top achievers in Oman’s corporate world. The award was received at the ceremony held recently at Hotel Sheraton Oman marking the seventh edition of the AIWA Awards. The award ceremony was held in the presence of dignitaries, with over 150 industry leaders and senior government and private sector officials. Eng. Ahmed bin Hassan Al Dheeb, undersecretary of the Ministry of Commerce and Industry, was the chief guest, for the evening.
“It is a proud moment for all of us and we are honoured to receive the award for 'Best Topline Growth in the Small Cap’. It is the hard work and commitment of every employee, the confidence of our stakeholders and the trust of our customers that have helped us grow. And we share this milestone with each of them,” said O. G. Ravishankar, general manager, Takaful Oman.
The awards are based on a survey of companies listed on Muscat Securities Market (MSM) done by Gulf Baader Capital Markets (GBCM) and the results were validated by KPMG. The ranking of companies was based on their performance in the last fiscal year, taking into account a defined set of broad parameters, including growth, return ratios, productivity and profitability ratios measuring the growth and efficiency of the companies.
Since its inception, Takaful Oman entered the market as an experienced competitor aiming at achieving a leading position among other well-established insurance providers. Over the past three years of operations, gross contributions amounts have almost trebled, while booking more profits than most of the well-established companies in the sector.