Written by: Ahmed Awad

Well - informed sources revealed that Al Madina for Finance and Investment Co. is approaching debt settlement agreements with number of creditors in the near term.

Sources, which were cited by Mubasher, stated that the company is gearing up to unveil settlement agreements for major debts soon after concluding them and securing the approvals of all competent authorities.

Notably ,The company's financial statements for the  nine months period ended September 30, 2014 have reflected KWD11.86 million ($40.7 million) net loss, compared to KWD4.31 million ($14.8 million) for the same period of previous year.   

Translated by: Shaimaa ELSarky