Mubasher: The execution department of the justice ministry in Kuwait has placed an executive seizure against the Gulf Investment House (GIH) in favor of a lending bank.
GIH clarified that the creditor is a local bank, according to a bourse statement issued on Monday.
This execution is in return for a debts account worth KWD 34.55m, GIH said, noting that the financial impact from this seizure cannot be determined in the current time.
On 12 September, GIH disclosed that it could not repay the murabaha credit accounts of KWD 1.56 million out of KWD 3 million that was due on 31 December 2016.
