Wednesday, Feb 20, 2013
(This article was first published on Tuesday.)
BEIRUT (Zawya Dow Jones)--Kuwait's Al Madar Finance and Investment Co. (MADAR.KW) said on Tuesday that one of its clients has settled a debt owed to the company worth 7.96 million Kuwaiti dinars ($28.2 million).
The customer has cleared the debt by relinquishing real estate properties of equivalent value to Al Madar, the shariah-compliant asset management and investment firm said in a statement posted on the Kuwait bourse website.
Al Madar's shares closed flat at 41.5 Kuwaiti fils in an overall lower market.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
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(END) Dow Jones Newswires
20-02-13 0347GMT
