Dubai – Mubasher: Shuaa Capital has announced that the Central Bank of Kuwait (CBK) approved its request to fully acquire the Kuwaiti company Amwal International Investment.

Shuaa will commence the procedures required to finalise the deal pursuant to Kuwait’s laws and regulations, according to a bourse statement released on Tuesday.

On Monday, both companies signed a preliminary agreement to enable the acquisitions transactions.

Shuaa’s net profit dropped to AED 11.7 million in the first quarter of 2018 versus AED 24.8 million in the year-ago period.