| Al Madina Insurance Company SAOG | |
| Type: | Public |
| Traded As: | MSM AMAT |
| Location City: | Muscat Grand Mall Al-Ghubra, Muscat |
| Location Country: | Oman |
| Key People: |
|
| Industry: | Takaful |
Al Madina Insurance Company SAOG (commonly known as Al Madina Takaful, Arabic: المدينة تكافل) is an Omani takaful company.
It was founded in 2006 as an insurance company. In 2014, the Capital Market Authority granted Al Madina a takaful license. Al Madina then converted all its insurance business to become Sharia-compliant and became the first takaful company in Oman.[1]
After the conversion, Al Madina embarked on acquisitions to expand its operations. In 2014, it invested in a 9.5 percent stake (along with its major shareholder MB Holding) in Abu Dhabi–based takaful operator Watania for AED 17.9 million.[2]
In 2014, Al Madina had a customer base of 37,000 policyholders.[3]