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Noor Financial to receive KWD 10m on court ruling

Noor Financial to receive KWD 10m on court ruling
The Investment Dar will pay KWD 10.08 million to Noor
NOOR
NOOR
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Mubasher: Noor Financial Investment said the court of cassation has issued a ruling on 11 July 2018 in favor of Noor against The Investment Dar.

Upon the court ruling, The Investment Dar will pay KWD 10.08 million to Noor Financial, according to a bourse statement on Sunday.

Noor has previously acquired a provision of 100%, if the court ruling is executed, it will reflect positively on the company’s profits with the estimated amount of KWD 10.17 million in addition to 7% as interest on the amount starting from 12 October 2008 until it is fully paid.