IslamicFinance.de

Kuwait's Investment Dar has proposed some $1.69bn in asset sales over three years to creditors as part of a $3.58bn restructuring plan, Reuters has reported, citing banking sources.
Dar will sell its stakes in Kuwait's Boubyan Bank and Bahrain Islamic Bank.

Banks reduced their exposure to Bahraini investment house Arcapita and Kuwait's Investment Dar by selling syndicated loans at distressed levels this week.
The sales show that banks are becoming more willing to sell impaired Middle Eastern bank loans as they become more familiar with the debt restructuring process.

After a dispute over a restructuring plan Kuwait's Investment Dar has announced that the panel representing most of its creditors has resigned. The coordinating committee of debtors wanted the firm to give up 90% of the company in return for less than half of the debt.