The Board of Directors of Al-Madina for Finance and Investment Co. (KWSE:ALMADINA) authorized a share repurchase program on July 9, 2013. Under the program, the company will repurchase up to 10% of its shares.

The company had received permission from the Capital Markets Authority to commence the repurchase program. The share repurchase program commences on July 9, 2013, and will be valid for 6 months.