Kuwaiti investment and financial services firm International Financial Advisors Holding (IFA) has secured a new credit facility worth EUR 1.66 million ($1.8 million).

The fresh capital, obtained from a “local lender”, is intended for general corporate purposes and will boost cash reserves, the firm confirmed on Wednesday.

Listed on both the Dubai Financial Market (DFM) and Boursa Kuwait, IFA manages funds, portfolios and strategic local and international investments.

The company was recently officially promoted to Boursa Kuwait’s Premier Market, the highest tier for listed companies, requiring higher liquidity and market capitalisation.

(Writing by Cleofe Maceda; editing by Seban Scaria) 
seban.scaria@lseg.com