Kuwait Islamic Takaful Insurance Company will discuss, during its extraordinary general assembly to be held on Monday, September 23, 2024, the recommendation of the Board of Directors to increase the company’s authorized and paid-up capital from KWD 10 million to KWD 15 million, by 50% at a value of 100 fills per share, a cash increase to be paid in one installment allocated to the current shareholders registered in the company’s records until the date of the extraordinary general assembly, and the Board of Directors is being authorized to set the rules and conditions for calling up capital and disposing of fractional shares, if any. 

The Extraordinary General Assembly will also discuss amending Article 6 of the Articles of Association and Article 5 of the article of incorporation regarding the company's capital, so that the text after the amendment will be:

The company's authorized and issued capital has been set at 15 million dinars, distributed over 150 million shares, each with a nominal value of 100 fills, and all the company's shares are in cash, of which 10 million dinars have been paid up, distributed over 100 million shares, with a nominal value of 100 fills per share, and all the company's shares are in cash.

The company will also amend Article 4 of the article of association  and Article 5 of the article of incorporation, so that the name of the activity will be non-life insurance and the formation of funds, and the company will directly carry out the aforementioned activities in the State of Kuwait and abroad, either as a principal or by proxy, and the company may have an interest or participate in any way with entities that carry out similar activities or that may help it achieve its purposes in Kuwait and abroad, and it may purchase these entities or affiliate them with it.