Mubasher: Kuwait's Court of Appeal has issued a ruling in favour of Kuwait Finance House (KFH) against Al Imtiaz Investment Group regarding a financial claim worth KWD 4.147 million.

The court obliged Danat Al Khor Holding Co to pay KWD 4.147 million in addition to the legal expenses and attorney’s fees, according to a bourse disclosure on Thursday.

Al Imtiaz Investment noted that it will appeal against the decision to Kuwait’s Court of Cassation.    

The decision will generate net profits worth about KWD 426,900 during the first quarter of 2018, representing 68.62% of the provision retained in the financial statements of Al Bilad Real Estate (BREI), currently known as Dimah Capital Investment Company.    

Consequently, there will be no material impact on the financial statements of Al Imtiaz Investment for 2019.