Monday, Aug 30, 2010
BEIRUT (Zawya Dow Jones)--The Kuwait investment Authority, or KIA, has turned down a parliamentary proposal to set up a shariah-compliant specialized entity to support small projects by Kuwaiti nationals, Kuwait-based Al Anba daily reports Monday.
The sovereign wealth fund said that it is engaged in undertakings that have been in place for a long time that make creating such entity unnecessary, the paper reports citing KIA's response which was referred to parliament by Minister of Finance Mustafa Al Shamali.
Newspaper website: http://www.alanba.com.kw/AbsoluteNMNEW/templates/oula2010.aspx?articleid=133953&zoneid=12
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2010 Dow Jones & Co.
(END) Dow Jones Newswires
30-08-10 0416GMT
