Gulf Insurance turns to takaful

  • Published: 18 May 2007 21:30
  • Last Updated: 18 May 2007 21:30

Kuwait's Gulf Insurance Company (GIC) has applied to the Saudi Arabian Monetary Agency for a licence to establish a sharia-compliant insurance firm. It will partner with Saudi investors in the takaful company and stage a public offering of 40 per cent of its shares.



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