IslamicFinance.de

Kuwait Finance House has signed a memorandum of understanding to finance $115 million for Bahrain-based Foulath Holding Company for five years. Shaheen Al-Ghanem, International Banks General Manager, KFH said the deal was part of KFH’s efforst to expand in foreign markets. Foulath is owned by GIC and Qatar steel Company in addition to the National Industries Group, Gulf Cables and Kuwait Foundry Company. Foulath owns factories in Bahrain, Saudi Arabia and its businesses cover various countries in the Middle East.