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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Market

Kuwait KIA rejects plan to set Islamic body to back small projects

Posted on 31 August 2010

Mustafa Al ShamaliFrom Zawya Dow Jones: The Kuwait investment Authority, or KIA, has turned down a parliamentary proposal to set up a shariah-compliant specialized entity to support small projects by Kuwaiti nationals, Kuwait-based Al Anba daily reports Monday.
The sovereign wealth fund said that it is engaged in undertakings that have been in place for a long time that make creating such entity unnecessary, the paper reports citing KIA’s response which was referred to parliament by Minister of Finance Mustafa Al Shamali……………………………………….Full Article: Source


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