Amwal International Investment Company held its Extraordinary General Meeting (EGM) on Thursday, 11 May 2023, and approved changing its entity to a holding company. The company changed its name to Amwal International Holding Company (Kuwaiti Closed Shareholding Company), and the new name has been approved by the Ministry. The EGM also approved the cancellation of the company’s investment activities, the addition of holding activities, and the amendment of Article (5) of the Memorandum of Incorporation and Article (4) of the Articles of Association, as follows:

Managing its subsidiaries or participating in the management of other companies in which it holds stakes and providing necessary support. Investing its funds in trading stocks, bonds, and other securities. Owning real estate and movable assets necessary to conduct its operations within the limits permitted by law. Providing financing or loans to companies in which it owns shares or quotas and guaranteeing them with third parties. In such cases, the holding company's ownership percentage in the borrowing company's capital must not be less than 20%. Owning intellectual property rights, such as patents, trademarks, industrial designs, franchise rights, and other moral rights, and exploiting and leasing them to its affiliated holding companies and others. Holding shares exclusively for the company's account. Operating a Business Management Office for holding activities.