Progress is being made in the restructuring of Kuwaiti investment firm Global Investment House (GIH). But overall the investment sector in the Gulf nation is in a deep trough – and local banks are not faring much better.
 |
|
|
“We are working hard with banks to sign a restructuring agreement by the end of this year. There will be no haircut and no grace period” Maha Al-Ghunaim, GIH |
GIH’s chairwoman, Maha Al-Ghunaim, tells Euromoney that out of the total 53 creditors to the firm, 51 have agreed to proposals for the restructuring of a total equivalent of $2 billion in outstanding GIH debt, some of which is Islamic.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
