Kuwait’s Aqar Real Estate Signs One-Year Renewable Murabahah with Boubyan Bank

Aqar Real Estate Investments Company (the Company) has obtained a one-year Murabahah credit facility from Boubyan Bank, with the option to extend the programme.

An announcement from Boursa Kuwait stated that the financing will be rescheduled within three to six months. Additional details on the value or purpose of the facility were not disclosed.

Earlier this week, on the 17th of March 2020, the Company announced the receipt of a KWD 2.2 million financing facility, from an unknown bank in Kuwait.

This facility had at a profit rate of 1.5% above the discount rate announced by the Central Bank of Kuwait and it would be used to finance the Company&...