Riyadh – Mubasher: Kuwait’s First Takaful Insurance (FTI), which owns 30% of Weqaya Takaful Insurance and Reinsurance, is prepared to contribute fully to increasing the capital of the Saudi company, according to Al-Jarida gazette.
Earlier, Weqaya filed with SAMA to raise its capital by 300% to SAR 800 million from SAR 200 million for offsetting its accumulated losses exceeding SAR 200 million and thus it will be able to resume trading that has been halted on the stock since 4 June 2014.
