Mubasher: The board of Amwal International Investment approved to transfer the portfolio accounts to its subsidiary, NCM Investment, during its meeting on Monday, 7 October.

The transfer will not result in any material impact on the financial statements of Amwal International, according to a statement to Boursa Kuwait on Tuesday.

It is worth remarking that during the second quarter of 2019, Amwal International’s profits soared by 145.5% to about KWD 211,000 from nearly KWD 86,000 during Q2-18.