Kib Takaful

Takaful insurance is the application of the principle of participation and interdependence in Islamic law, where it is not based on the principle of profit as a basis but based on the principle of interdependence, which is the participation of a group of persons (ordinary or legal) real stakeholders of the insurance (holders of documents) in the distribution of damages arising from the range of potential risks together. Through compensation that is spent on the proceeds of their subscription (insurance subscription) instead of each individual bearing the damage done on its own, the company is considered as the director of this fund of the companies on a merit-based basis in terms of risk study and compensation. The KIB Takaful Insurance company was established as a Kuwaiti insurance company closed in 2004 with authorized capital of KD 10 million. The work at The KIB Takaful Insurance company is about providing comprehensive, innovative and sharia-compliant insurance services by studying customer needs and the local market, and working to provide the best services across multiple distribution channels serving customers on a large scale.