The Kuwait and Middle East Financial Investment Company (KMEFIC) recently announced the launch of a new investment fund, sponsored by the Kuwait Investment Authority (KIA). The Al-Ruaya Fund’s capital ranges from five million Kuwaiti dinars to KD 50 million and is available to corporations and individuals, KUNA reported.
Subscription to the fund is open until June 26 through the Bank of Kuwait and the Middle East and the Middle East Company (BKME). KIA provided 50 percent of the fund’s capital, which will finance the selling and purchasing of securities for companies listed on the Kuwait Stock Exchange and governmental bonds.
KMEFIC was founded in 1984 by BKME and The Public Institute for Social Security. Three years later, BKME acquired KMEFIC in its entirety. The company’s primary geographic operating markets include Kuwait and the United States. Its services include, investment products, personal asset management and tax and legal advice. — (menareport.com)
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