FINANCIAL NEWS

Kuwait’s KCIC 2012 earnings at USD18.35m

19 Mar 2013

(MENAFN) Kuwait’s KCIC Managing Director, Ahmad Abdlatif Al Hamad, stated that the Kuwaiti firm’s earnings for 2012 reached USD18.35 million, reported Arab Times.

Al Hamad said that in the period, revenues of the company, which specializes in investments in Asia, reached USD42 million.

He added that in the year, KCIC launched an office in Hong Kong that expanded the firm’s footprint in Asia and affirmed its commitment to the region.

Furthermore, 2012 witnessed the launch of the first Shariaa Compliant Islamic Trade Finance Fund, which focuses on funding trade flows in Asia and the Middle East under ShariaaMurabaha Structures.

It is worth noting that at the end of the year, KCIC’s assets were at USD335.06 million.

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