Financial and Banking News
Kuwait Finance House Accepts Government Bonds to Cover Bad Debts
Kuwait Finance House (KFH), which operates as an Islamic bank, has governmentdebt bonds of KD553mn on its balance sheet as a result of the debt-for-bondswaps being instituted by the Central Bank. The bonds carry a fixed rate ofinterest which is determined by the Central Bank. One of the central tenets ofIslamic finance is the prohibition of fixed rates of...