The Board of Directors of Industrial and Financial Investments Company has put forth a recommendation for the reduction of the company's capital from KWD 11 million to KWD 1 million. This reduction, amounting to KWD 10 million, is intended to cover all accumulated losses. This proposition is part of the agenda for the company's upcoming Extraordinary General Meeting (EGM) for the financial year ended 31 December 2022, scheduled for August 31st. Among the subjects slated for discussion at the EGM, there is also the matter of approving amendments to specific articles within the Memorandum of Incorporation and Articles of Association. These adjustments align with the stipulations and regulations outlined in the Companies Law No. (1) of 2016 and its executive regulations, as well as regulatory rules and regulations, in line with the international classification of activities. Specifically, the proposed amendments entail modifications to Article (1) of the Articles of Incorporation and Article (2) of the Memorandum of Association. Additionally, changes are proposed for Article (4) of the Articles of Association and Article (5) of the Memorandum of Incorporation.