Mubasher: Osoul Investment on Wednesday announced the settlement of some of its due debts owed by the Bahraini unlisted Gulf Monetary Group (GMG).

The debt settlement amounted to about KWD 43,400 ($143,500), the company said in a statement to Boursa Kuwait.

The impact of the debt collection process will be reflected in the financial results of the first quarter of 2019 as a result of repaying provisions with the same amount, Osoul added.

During the first nine months of 2018, Osoul Investment’s profits declined 23% to KWD 891,900, against KWD 1.2 million in the corresponding period in 2017.