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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Finance more

Kuwait’s IIG may sell, break up or seek investor

Posted on 11 January 2011

From Thenational.ae: International Investment Group (IIG), a troubled Kuwaiti financial concern, announced it was considering selling assets, finding a new investor or breaking up the company after defaulting last year on a US$200 million (Dh734.6m) Islamic bond.
IIG is the third major investment company in Kuwait to default on debt - the others being The Investment Dar in 2009 and Global Investment House (GIH) in 2008. Kuwait’s finance companies were some of the hardest-hit in the region by the global financial crisis as share prices plummeted and banks became reluctant to refinance borrowings……………………………………….Full Article: Source

 
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