Financial and Banking News

AFESD WILL NEITHER BORRDW NOR RAISE CAPITAL IN NEAR TERM

The Kuwait-based Arab Fund for Economic and Social Development (AFESD) has no plans for a further capital increase beyond the KD800mn already called, or for an increase in its resources by borrowing, according to its new Director-General and Chairman of the Board, Mr. 'Abd al-Latif al-Hamad. In an interview with MEES Associate Editor Mehran Nakhjavani in Kuwait last week, Mr. al-Hamad also made it clear...