Mubasher: Gulf Investment House (GIH) announced that the company could not repay KWD 1.56 million out of a total KWD 3 million debts under the article of murabaha creditors’ accounts.

The overall debts due on GIH were scheduled to be repaid on 31 December 2016, according to a bourse statement issued on Tuesday.

GIH clarified that the total debts due to the credit bank are estimated at KWD 34.55 million, as registered on 31 July 2017.

On Monday, GIH announced that the credit bank has started to take legal action against the company.