LOC19:28
16:28 GMT
By Ahmad Faraj
KUWAIT, Sept 7 (KUNA) -- Governor of the Central Bank of Kuwait (CBK)
Sheikh Salem al-Abdulaziz al-Sabah noted in remarks to KUNA on Monday that the
Investment Dar Company has not as of yet turned in its annual financial
account to CBK as required by the Central Bank.
He said that CBK was closely following Dar's restructuring plans, affirming
he had received requests by Dar's creditors urging CBK's intervention in these
plans to ensure their complete transparency.
He added that CBK in the past few months has received complaints from Dar's
shareholders and creditors that they have not gotten funds owed to them by Dar.
Due to these and other considerations, CBK has decided to appoint a
temporary monitor at Dar beginning on Sept 8 to watch over the company
activities, said the Governor.
Chief among the monitor's duties will be to find out why Dar was not
forthcoming with its 2008 financial statement as per required by CBK, and to
examine minutely details of the company's restructuring plans, he said. (end)
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