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Friday , February 28 2020

Company set with KD 20 mln capital

KUWAIT CITY, July 15: Kuwait Clearing Company and four other partners have established a closed shareholding company with the name “Kuwait International Settlement and Clearing Company”, reports Al-Rai daily. The authorized capital of the established company is set at KD 20 million distributed over 200 million shares. The company’s capital consists of cash shares paid as follows — paid up capital of KD 20 million paid by the company to the National Bank of Kuwait. The founders subscribed to the entire capital of the company as follows — Kuwait Clearing Company KD 19.8 million for 198 million shares, and the other four partners subscribed with an equal share of KD 50,000 capital each, equivalent to 500,000 shares.

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