Insolvent investment companies in Kuwait will have to look for aid from their shareholders, not the state, central bank governor Salem Al Sabah has said. A draft bill containing clauses to help Kuwait¹s troubled sector of investment companies is due to be passed through Kuwait¹s notoriously uncooperative parliament. But Sabah says that although solvent investment companies will be provided with liquidity, insolvent ones will have to turn to their shareholders.
Sabah was speaking at a Euromoney Islamic Finance summit in London earlier this week.
Market sources expect ten to twenty investment companies to go bust.
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