Kuwait’s court cuts insider trading fine against Al Ahli Bank chairman

Dubai: Kuwait’s Court of Appeal has reduced a fine against the chairman of Al Ahli Bank on alleged insider trading charges to 100,000 Kuwaiti dinars (Dh1.25 million) from 1.5 million dinars, a bourse statement from the lender said.

In March, the Court of First Instance fined Ahmad Yousuf Behbehani after a complaint by the Capital Markets Authority.

Behbehani said at the time he was not guilty of wrongdoing and would appeal the ruling.