Arab Investment Co. (AIC) has agreed to arrange Kuwait Real Estate Bank a $50 million loan, reported AFP on Monday, June 25.
The three-year loan is underwritten by Kuwait’s Burgan Bank, Emirates International Bank as well as other international, regional and local banks and financial organizations.
AIC is based in Bahrain though it is jointly owned by 17 Arab goverments.
The Kuwait Real Estate Bank was founded in 1973 and is a shareholding company listed on the Kuwait Stock Exchange. — (MENA Report)
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