Kuwait Finance House acquires Swedish postal properties
Kuwait Finance House (KFH) Kuwait, has sealed a €300 million ($296 million) real estate deal with Deutsche Bank in London. Under the contract, the Islamic financial institution has agreed to purchase the company that owns Sweden's postal service outlets.
KFH expects a return on investment of nine percent, KFH General Manager Jassar Al-Jassar was quoted in a statement issued by the bank earlier this week. He added that the firm will offer the new holding to investors in the form of an Islamic fund.
KFH is an Islamic bank, offering commercial banking, investment, trade finance and real estate financing services. It has thus far invested a total of $1.5 billion outside the gulf emirate of Kuwait, while adhering to Islamic banking principles. — (menareport.com)
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