Kuwait-Mubasher: Kuwait Finance and Investment (KFIC) has obtained an approval from loan-granting banks to modify the repayment conditions for a total of KWD 14.6 million debts.
Thus, the annual repayments will amount to KWD 1.4 million instead of KWD 4 million from July 2016 until October 2020, the company clarified in a statement issued on Thursday.
KFIC said that the remaining amount of the repayment worth KWD 7.6 million can be restructured for new repayment dates.
The financial impact from the modifications cannot be determined; however, this step will generate enough liquidity for KFIC to expand in its investment and financing activities.
