Financial and Banking News


Kuwait to Establish Elba Islamic Charity organization 

The Kuwaiti National Assembly (parliament) approved a government bill on 4 June setting up the International Islamic Charity Organization (IICO), which will be capitalized at $1bn and headquartered in Kuwait. IICO will serve as an umbrella organization grouping all government and private charities and donations in Kuwait and other Muslim countries in order to channel these resources to poor...