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Islamic Finance Briefing - Categorized | Finance, Market Moves more

First Investment agrees with lenders on restructuring

Posted on 17 October 2011

First Investment Co., the Kuwaiti Islamic finance company known as Al-Ola, signed an agreement with its creditors to restructure 92 million dinars ($333 million) of debt.
“We signed the accord last February with our six local lenders” including Al-Ahli United Bank, Kuwait Finance House, Burgan Bank SAK, Chief Executive Officer Khalid al-Sanaousi said in a phone interview. Kuwait International Bank, Commercial Bank of Kuwait SAK and Boubyan Bank were also part of the agreement, he said……………………………………….Full Article: Source

 
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