Mubasher: Al Madar Finance and Investment received KWD 2 million worth of payments due by one of the firm’s clients.
The collection process will generate a profit value similar to the repaid amount, Al Madar said in a filing to Boursa Kuwait on Sunday.
The company also highlighted that the financial impact of the transaction will reflect on the financial statements as on 31 December 2019.
It is worth remarking that during the first half of 2019, Al Madar’s profits plunged by 99.3% year-on-year to about KWD 123,710.
