Kuwaiti First Takaful to invest in Islamic ins. in Pakistan
Tuesday, 04 06 2021, Category: Islamic Insurance, Country: Kuwait
The board of First Takaful Insurance Company, a 53.447%-owned subsidiary of International Financial Advisors (IFA), has approved to enter into a new investment in an Islamic insurance company, under establishment in Pakistan.
The maximum value of the approved investment amounts to $3 million, according to a bourse filing on Sunday.
Hence, the investments of First Takaful Insurance will rise by $3 million and decline from prepaid investments of $3 million.
The insurance company in Pakistan will focus on offering a savings insurance product to enable Muslims with limited income to perform the pilgrimage.