Takaful Nasional (TN) recently signed a joint venture agreement with Pakistan Kuwait Investment Company Pte Ltd (PKIC) and Meezan Bank Ltd (Meezan) to form a Takaful company called Pak-Kuwait Takaful Company (PKTC). The total authorized capital for PKTC is US$8.38 million (PKR500 million/RM32.8 million), of which US$4.19 million (PKR250 million/RM16.4 million) will be subscribed initially. TN’s investment of 25% in the initial subscription will amount to US$1.05 million (PKR62.5 million/RM4.1 million). As part of the agreement TN will provide technical....