Emirates Islamic Bank has joined Kuwait Investment Co, The Arab Investment Co, Amlak Finance, National Bank of Sharjah, Al Salam Bank (Sudan), and International Leasing & Investment Co in raising US$22.5 million for the Al Mowasat Hospital project in Kuwait.
The financing is being done through an Islamic lease agreement, which expires in 2009. International Leasing & Investment Co Chairman and CEO Dr Khaled Al Hajri said that the company is seeking to diversify its operations in various sectors and is interested in the health sector. Commenting on the investments in Al Mowasat Hospital, he said, in addition to the financial returns, the investment works for the health and wellness of the Kuwaiti nationals.