IFA repays first installment in KWD 25m loan

SourceMubasher
SectorTechnology
CountryKuwait

The impact of the settlement will be registered in the financial statements in Q4-20 15 October 2020 03:50 PM Mubasher: International Financial Advisors (IFA) has repaid KWD 3 million ($9.8 million) as the first installment in a loan amounting to KWD 24.98 million ($81.9 million). The completion of the first payment as agreed in the fourth quarter (Q4) 2020 will result in a profit deduction of KWD 18.98 million as per the signed contract, according to the company's disclosure to Boursa Kuwait on Thursday. Hence, the financial impact of the settlement will be registered in the financial statements of the company, listed on Boursa Kuwait and the Dubai Financial Market (DFM), in Q4-20. It is noteworthy to ...read more...