Financial and Banking News
KFTCIC Returns to Profit in 1988
Kuwait Foreign Trading, Contracting and Investment Company (KFTCIC) hasreturned a small profit of KD2.8mn ($9.4mn) in 1988, after huge losses ofKD60.2mn in 1987 and KD81.9mn in 1985. In 1987 the company decided to take itsprovisions for bad debts in one year and set aside KD59.8mn for this purpose(MEES, 15 August 1988). In 1988 it does not appear that any allocations forprovisions were made....