Kuwait-Mubasher: Al Aman Investment suffered losses of about KWD 265,900 ($881,900) in the first quarter of 2016, according to a bourse statement.
The sharia-compliant wealth manager achieved earnings worth around KWD 108,300 ($359,200) in Q1-15.
Al Aman clarified that its poor performance stemmed from “impairment loss on available for sale investments by KWD 288,000 managed by others.”
The stock fell by 3.77% to 51 fils, before closing Tuesday’s session, after about 331,600 shares were exchanged with a value of KWD 17,000.
