Kuwait Finance House says client settles $297m debt

Posted by on Jul 2nd, 2013 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Kuwait Finance House said on Monday that a customer had settled $296.6 million of debt owed to the bank and that the impact of the receipt would be reflected in its second-quarter results. The customer had owed 32.6 million

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dinars or $114.3 million to KFH and 51 million dinars to subsidiaries. KFH did not give any details about the debtor, or say whether the customer was a corporate entity or an individual. The bank is expected to release second-quarter earnings in August.

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