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Reschedule of Credit Facilities and Increase of Credit Limit

Kuwait Real Estate Company (AQARAT) has concluded an agreement with Boubyan Bank to restructure its credit facilities and increase the credit limit granted by the bank. This agreement resulted in an increase in the credit limit from KD 22.625 to KD 33 Million, in addition to a grace period to settle the credit facilities’ installments until June 2018 at 2.25% above Kuwait Central Bank discount rate.