AlWatan (Kuwait) carries a press release issued by TID announcing that the Central Bank of Kuwait had approved its 2008 audited fiscal report.
What a difference a day makes! From a bitter lawsuit against the Central Bank to what might charitably be described even by local standards (and AA is a very charitable guy) as fawning praise.
After thanking HE Shaykh Salim Abdul Aziz Al Sabah, Governor of the Central Bank of Kuwait for approving its 2008 financials, TID takes this apparent first opportunity to launch into an encomium which occupies the major part of the press release. TID praises the wisdom, high level of professionalism, advanced technical proficiency, and hard work of the Central Bank in preserving not only the financial sector but the entire economy of Kuwait from the thick clouds of the global financial crisis which affected all parts of the globe.
The press release also notes that TID's assets have improved with the turn in the market, its financial position is strong, and it will meet its obligations.
The press release ends with thanks to Ahmed AlWunyan of the Special FSL Court who accepted TID's restructuring after studying it with the Central Bank of Kuwait.
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