First Islamic Insurance Company Established In Kuwait
A group of Islamic investment firms in Kuwait on 19 September established the first insurance company to operate in line with Islamic sharia law, the founders said. The First Cooperative Insurance Co has a capital of KD10mn ($32.5mn). Kuwait Finance House (KFH), the only Islamic bank in the emirate, has a 27.5% stake in the new firm. Other partners include the International Investor and Murabaha...