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Kuwait’s Munshaat seeks loan from KFH

Kuwait-based Munshaat Real Estate Projects Company is seeking an Islamic loan of about KD25m ($91.9m) from Kuwait Finance House, Arabic daily Al-Watan has reported. An informed source has told the daily that Munshaat officials will hold a meeting with KFH executives to agree on Murabaha financing mechanism to get the loan. Sources have added that the company would use the loan in funding the Dar Al Qibla project in the Saudi city of Madina.