- Offer and enter into Islamic reinsurance agreements.
- Carry out all types of business related to Islamic reinsurance, as well as all types of business directly or indirectly enable the company to realize its objectives as per the guidelines of Islamic sharia principles and applicable laws.
- Provide partial or full reinsurance of potential risks and all types of reinsurance services related to the company's activities.
- Enter into all Islamic reinsurance agreements, such as the issuance of sukuk, certificates or similar instruments in accordance with Islamic Sharia, through which the Company will initiate the establishment of a retakaful fund taking into account periodic contributions in addition to units of shares associated with such policies regardless of whether these units are related or not to Islamic life insurance policies.
- Enter into Islamic reinsurance agreements related to pension funds, disability coverage, senior citizens, unemployment and other similar types of insurance, regardless if they were related or not to Islamic life insurance policies
- Enter into agreements with other companies and institutions to accomplish the Company’s objectives.
- Enter into agreements and contracts with the government, judicial authorities and others in order to obtain licenses, trademarks and any other intellectual property rights necessary for the company to achieve its objectives.
- Establish branches and subsidiaries. Purchase shares in other companies providing similar activities to contribute to the achievement of the company's objectives. The Company may merge or acquire such companies.
- Obtain funding at any time, as deemed necessary to achieve the Company’s objectives, providing that the financing agreements are issued in line with the guidelines of Islamic Sharia principles.
- Invest the Company's funds as per the Board of Directors’ discretion, in line with the provisions of Islamic Sharia.
- Appoint agents, representatives, brokers or any other parties and make all necessary arrangements for the performance of the company's functions.
- Purchase, acquire, lease, sell, replace and gain all the rights needed to carry out its activities including movable and immovable assets, namely; land plots, buildings, machinery, equities or any other assists required for the company to carry out construction, maintenance and modification of the buildings, as well as all its objectives. The company may also register with the official authorities of these movable assets as well as make direct invertasome in such assets or rent them by any means.
- Issue, call back and prepare all other means such as bills of exchange, bills of lading and any other commercial instruments in lien with the guidelines of Islamic Sharia principles.
- Purchase movable and immovable assets as required to carry out the Company’s temporary or permanent interests or get financing to do so. The Company may acquire, withdraw or cancel in any form it deems fit any document of a security policy or contract that has issued, or any transaction related to the aforementioned benefits above.
- Act as an agent to issue sukuk or shares for public subscription or otherwise, as well as to provide underwriting services for the issuance of such sukuk or shares.
- Provide credit facilities, backed up by guarantees or not, including policies issued by the company or the funds the Company is in charge of. The Company may also utilize any part of its property to purchase, settle, amortization or retiring any of the obligation related to any of the Company’s policies, agreements or commitments.
- Set up appropriate stock options programs and plans to enable employees to own the Company's shares as per the terms and conditions determined by the Board of Directors and the approval of the Company's Annual General Assembly. In order to accomplish that, the Company may incorporate and manage other companies or financing institutions, arrange the necessary financing for those companies and cover the liabilities that may arise.
- Pay settlement or reach an arrangement for any claims filed against the Company whether such claims are inevitable or can be settled. The Company may refer any of those claims to arbitration or subject itself to any proceedings in accordance with stipulated customs or jurisprudence.
- Provide expertise, advisory and IT programs in addition to other consulting services.
- Carry out all of the above stated activities worldwide, directly on behalf of the company or as agents, trustees, contractors, sole proprietors or in cooperation with others or through agents, sub-contractors, subsidiaries or others.
- The Company may carry out other activities to assist in achieving its objectives, in line with the guidelines of Islamic Sharia principles.
- The company may, in general, carry out all the activities and services that fall within the purview of Takaful reinsurance companies that comply with the Islamic Sharia provisions.
- The Company may carry out the above stated objectives in Kuwait or abroad, on its behalf or representing third parties. The Company may have an interest with entities that carry out businesses similar to its own or that may be conducive in assisting its objectives, and it may buy, participate in, associate with or merge with such entities.
- The Company conducts all its activities in accordance to guidelines of Islamic Sharia principals. In no case shall any of the above stated purposes be construed as authorizing the Company to carry out any acts of Riba, directly or indirectly, particularly in financing, bonds and shares.
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