Kuwait Court of Cassation principle number 1476

The Decree-Law concerning authorization to establish Kuwait Finance House. Its provisions indicate that it is a joint-stock company pursuant to the law establishing it, while being subject to the general provisions contained in the laws on companies, commerce, currency, the Central Bank of Kuwait and regulation of the banking profession, insofar as they do not conflict with the nature of its activity and the provisions of its articles of association concerning care to exclude the element of interest or usury. - The decree concerning the establishment of Kuwait Finance House sets out how its funds, including both types of investment deposits, are to be used, how funds are to be used and how shareholders' and depositors' funds are to be preserved, and other matters. Its consequence. As a joint-stock company it is subject to gain and loss and does not distribute profits if none are realized. The necessary implication thereof. Shareholders and deposit holders have no entitlement to claim profits so long as it has not realized any. - 258 - Commercial Types of companies 1- The joint-stock company:- - Company shares (offering them for subscription, their trading and their devolution to others):-