A’ayan leasing & investment company had announced that the company had undergone net losses of 73.3 Million K.D & 119.1 fils drop in share value in comparison with a net profit of 413.7 thousand K.D. (0.68 fils increase in share value) back in 2008. The higher management had also advised against providing benefits/profits to shareholders for the financial year 2009.
I felt sad before for what happened to Investment Dar,
I hope A’ayan could recover
Source: Al-Watan Newspaper
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Investment Dar was in a huge debt, and what is worse than that, they tried to cover it up and miss lead the investors and economists, but it was so big they couldn’t hide it for too long.
Ayaan is going down hill too, it is performing the way Investment Dar is performing, which is bad, they both made the same mistake.
The main issue with Investment Dar that they are claiming to be an islamic based financing company, but how could an islamic based company, take a non islamic loans, and make non islamic contracts ?!! That’s a BIG ? on them.
Very informative comment & gave a lot of insight about what’s happening
in these falling apart firms !
The news itself gives a bad picture of the situation( it is bad but in the same way good).
whereas the company is getting up again they announced all these numbers so they can reduce the capital and then increase it again with same shareholders. oo tra they have all there debt rescheduled with local and international banks.
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