Fitch Ratings, a global credit rating agency, has granted Boubyan Takaful Insurance an "A" rating for its Insurer Financial Strength (IFS) with a stable outlook for 2024. 

This rating clearly reflects the quality and robustness of the company's business model and financial stability, reinforcing its leading position in Kuwait's Takaful insurance sector.

On this occasion, Ibrahim Al-Khazzam, CEO of Boubyan Takaful, stated, "We are very pleased to receive this advanced rating from Fitch Ratings, which reflects our commitment to innovation and our dedication to providing the best Sharia-compliant insurance services and solutions to our clients. This rating is a testament to our continuous efforts to achieve the highest standards of performance and transparency."

Al-Khazzam further explained that this step reinforces Boubyan Takaful's status as a Takaful insurance company with strong financial capacity and stability, enhancing the trust of clients and shareholders in its ability to meet its obligations while achieving sustainable profitability and growth. He added that this achievement marks the first time in the company's history to attain such a high rating, solidifying the success of its strategy and carefully planned steps towards focusing on regulatory and administrative measures aimed at improving ratings and financial indicators while significantly emphasizing reinsurance.

It is noteworthy that this advanced rating was granted to Boubyan Takaful due to the strong strategic support and financial solidity provided by Boubyan Bank, as it is one of the bank’s subsidiaries and benefits from operational integration between the two entities.