Wethaq Insurance receives $6.48m from real estate fund

Wethaq Insurance receives $6.48m from real estate fund
The amount would be added to the firm's liquidity
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Mubasher: Wethaq Takaful Insurance has announced that it received KWD 1.97 million ($6.48 million) from a real estate fund, which is being liquefied.

The received amount represents the company’s investment pumped into the fund, Wethaq said in a bourse statement released on Thursday.

The Kuwait-listed company said that the amount would be added to its liquidity.

Wethaq reported a 4% year-on-year profit decline in 2018, registering KWD 86,400.