KUWAIT, April 11 (KUNA) -- Kuwait Finance House plans to invest in the alternative energy field, an executive of the Islamic bank said on Sunday.
Abdul Nasser Al-Subeih, the acting assistant general manager for investment sector of the KFH (Baitak), said the bank would study projects for invesment in this sector.
Al-Subeih said in a press release that these projects need to be studied for a long period of time, denying that taking such an approach would contradict with the nature of Kuwait and the other Gulf states as oil producing countries.
He added that in a world that "we cannot view as free of oil, we can produce alternative means for energy that are friendly to the environment and enrich the civilization of our societies and their future." Al-Subeih denied that such an approach might negatively affect Kuwait's national income, adding that such new sources for energy would not substitute fossil fuels, oil, gas and coal. - Kuna