Financial and Banking News
KFAED to Increase Paid-up Capital
The Kuwait Government has promulgated a new law - No. 47 of 1988 - publishedin the 25 September issue of the official gazette, Kuwait al-Yaum, under whichthe Kuwait Fund for Arab Economic Development (KFAED) is allowed to capitalizeits reserves and profits. The law stipulates that KFAED may add to its paid-upcapital 50% of its reserves at the end of the 1986-87 financial year, and thatthe...