National Takaful Company (Watania) PJSC ( ar, وطنية للتكافل) is a

takaful Takaful ( ar, التكافل, sometimes translated as "solidarity" or mutual guarantee) Khan, ''What Is Wrong with Islamic Economics?'', 2013: p.403 is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic ...

company based in Abu Dhabi,

United Arab Emirates The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia ( The Middle East). It is located at t ...

. The company was created in 2011 by Abu Dhabi National Islamic Finance,

Abu Dhabi National Insurance Company Abu Dhabi National Insurance Company PSC ( ar, شركة أبوظبي الوطنية التأمين; ADNIC) is an insurance company based in Abu Dhabi, United Arab Emirates. It is the third largest insurer in the country as of May 2015. ADNIC was ...

TAQA The Abu Dhabi National Energy Company, PJSC (TAQA) is a government controlled energy holding company of Abu Dhabi, United Arab Emirates. TAQA (Arabic for Energy) is one of Abu Dhabi's flagship companies and as such has an important role to play ...

and

Aldar Properties Aldar Properties PJSC (شركة الدار العقارية ''Sharikah al-Dār al-`Iqāriyyah'') is a real estate development, management and investment company with headquarters in Abu Dhabi, United Arab Emirates. The company's shares are trade ...

. These founding investors floated around 55 percent of the company's shares in an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

which was seven times oversubscribed. The company commenced operations shortly after, with the opening of two branches in Abu Dhabi and Dubai over the following two years. In 2014, Oman-based conglomerate MB Holding acquired a 60.5 percent stake in the company through two subsidiaries, including Al Madina Takaful. Watania operates using the wakala model and offers general and health takaful products.

References

External links

* {{Official website , https://www.watania.ae/ Takaful companies of the United Arab Emirates Financial services companies established in 2011 Companies based in Abu Dhabi Companies listed on the Abu Dhabi Securities Exchange 2011 establishments in the United Arab Emirates