Arab Islamic Takaful insurance firm launched
A new Takaful insurance firm has been launched as a Kuwaiti joint stock close company with capital worth KD 5 million (about $16.32 million), according to a new report. The Arab Islamic company for Takaful insurance conducts all forms of local insurance and reinsurance, besides life insurance both at home and abroad, Kuwait AlYaum wrote yesterday. The new company can manage saving work, and accumulation of funds as well as insurance against fire, emergencies, transport accidents, and other forms. The new firm can also invest its funds and handle them the way it opts for and conduct all relevant financial operations, the paper said.