With reference to the abovementioned subject, and the CMA regulations issued on November 9, 2015, module number ten”disclosure and transparency” of CMA executive bylaws regarding”dealing with news & rumors, NIC declares that the news published in Al Rai newspaper on 19/07/2017 stating that the fund liquidator of Wataniya monetary fund is obliged to pay KD 1.1 Million in favor of KAMCO Investment Co. as final compensation.

NIC wants to confirm that such news is false, where we disclosed on 17/07/2017 the appeal verdict that cancelled the above verdict, and as per mentioned in our disclosure such amount was 100% provisioned & will be recorded as profits for NIC in Q3, 2017.

For more information, you can refer to our disclosure on Kuwait Boursa website.