VOL. XXXVI

NO. 45

9-AUGUST-1993

Financial and Banking News

REGIONAL BANKING

KIIC Holds Annual Meeting, Decides To Raise New Capital

Shareholders of Kuwait International Investment Company (KIIC) held theirannual meeting on 1 August and agreed to raise new capital. The government is tosubscribe KD9mn ($28mn) with a larger amount being subscribed by private sectorshareholders. The accounts for the two-year period 1990-91 were approved butthose for 1992 have still not been finalized.