IslamicFinance.de

Kuwait investment firm Aayan Leasing and Investment has asked creditors to reschedule its remaining debts worth 176 million dinars ($587 million), chairman Fahd Ali al-Ghanim said. As part of the restructuring plan, Aayan planned to liquidate some of its portfolio of listed Kuwaiti companies, Ghanim said. However, many of the shares are still trading below the value at which they were bought, Ghanim said, adding this helped to explain why Aayan was seeking a further debt rescheduling. Despite rebounding slightly in 2013 and 2014, Kuwait's stock market is still trading 60 percent lower than its June 2008 peak.