KIC adopts Istidamah solutions to ensure e-security

29/09/2012 08:09 AST

Kuwait Investment Company (KIC) announced signing an agreement with Istidamah Holding, a company specialized in integrated environmental solutions, to be benefit from their services in the areas of environmental conservation, as well as maintaining secrecy of information. In so doing, Istidamah adopts advanced operations to mitigate the risky negative repercussions of the leakage of secret institutional and customer information abroad across the unprocessed waste.

Talal Sulaiman Al-Rashdan, Senior Manager - Public Relations, Media and Administrative Affairs at KIC, in a joint press release of both companies, upon signing the agreement with Khalid Al-Mutawa, Chairman and Managing Director of Istidamah, stated that KIC realizes the significance of environmental conservation, and its commitment to maintain confidentiality of customer information, while adopting information protection to world standards. He stated that the company seeks to upgrade its service quality and is keenly desirous to observe the rules and regulations applicable in Kuwait, as well as international agreements and standards.

"According to the agreements, Istidamah shall provide its state-of-the-art environmental conservation solutions and services, including gathering, transferring and recycling office waste, thus enhancing the joint efforts of both companies toward providing advanced environmental services, eventually protecting the Kuwaiti environment against pollution. This is true, particularly that the issue of waste in Kuwait has now been jeopardizing the environment with its growing size and the continuity of traditional disposal methods, such as burial, and incineration, which result in the emission of toxic methane," Al-Rashdan said.

Al-Rashdan stressed that KIC, since its inception in 1961 with a paid-up capital of KD 55 million, has targeted realizing the expectations and ambitions of its founders to attain a leading foothold among the investment companies, achieving growth of the assets of its customers and shareholders, as well as being a major portfolio manager in Kuwait, with total assets amounting to KD 2.3 billion under its management, as per the financial statements of 31 December 2011.

He stated that KIC seeks providing the customers with best products and services through a full-fledged team to conducts research, studies and analysis of the data of invested shares, thus boosting the accuracy investment decision, eventually reflecting in the performance and results.

"KIC is rated BBB as a long terms credit rating, with stable outlook by Capital Standards. It performs all investment activities at local, regional and international levels, including securities investment and trading, real estate investment, real estate leasing and management, subscription, issuance of CDs, acceptance of deposits for investment with financial institutions, concluding foreign currency contracts, and management of investment portfolios and mutual funds," Al-Rashdan elaborated.

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