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IFA to Book KWD17 Million Gain from Reclassifying First Takaful Insurance Investment

MT Newswires·09/09/2026 09:33:44
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09:33 AM EDT, 09/09/2026 (MT Newswires) -- International Financial Advisors Holding (DFM:IFA), d/b/a IFA, expects to record a gain of 16.6 million Kuwaiti dinars from reclassifying its investment in First Takaful Insurance Co. from a subsidiary to an associate. The Dubai-listed investment company said Wednesday that 11 million dinars of the expected gain reflects an estimated profit tied to the unsold portion of the investment. The gains will be realized in the third quarter.