Kuwait Finance House Plans to Finance Government Projects in Saudi Arabia

Kuwait Finance House (KFH), is planning to finance government projects in Saudi Arabia, according to Abdulwahab Al-Roshood, Acting Chief Executive Officer of KFH.

Why it Matters?

KFH is seeking to contribute to the financing of the Government of Saudi Arabia and infrastructure projects in sectors such as electricity and oil. Another mega project that it is eyeing is NEOM, a USD 500 billion flagship business zone. The plan behind NEOM is to diversify the economy of Saudi Arabia, which is the world’s largest oil exporter. Roshood added that Saudi Arabia is a promising market.

Details

KFH intends to issue new Islamic bonds in 2022. Kuwait’s economy was adversely affected on the back of Kuwaiti banks&rsqu...