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Islamic Finance Briefing - Categorized | Finance, Financial Instruments (Credit Cards, Debts, Loans, Mort more

Islamic firm Aayan signs $744mln restructuring deal

Posted on 25 May 2011

Kuwaiti Islamic firm Aayan Leasing and Investment Co on Monday signed a KD 205 million ($743.6 million) debt restructuring deal with creditors.
This amount is 62 percent of the Aayar’s total debts, it said in a statement. The firm, which was hit during the global financial crisis, has signed an agreement with nine creditors, seven of which are local, including Kuwait Finance House, Burgan Bank and Gulf Bank……………………………………….Full Article: Source

 
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