BKME operating as Ahli United Islamic bank as of Thursday - CBK


31/03/2010 00:00 AST  KUNA

The Bank formerly known as Bank of Kuwait and the Middle East (BKME) was crossed out from the local conventional banks list and is to start its Sharia-compliant operations as of Thursday listed as "Ahli United Bank," said the Central Bank of Kuwait (CBK).

CBK Governor Sheikh Salem Abdelaziz Al-Sabah told KUNA this step follows the bank's full implementation of measures required for the conversion. It comes in compliance with the fourth article of law 30/2003 on CBK and banking regulation in the State of Kuwait.

The bank is thus the latest Islamic bank registered in Kuwait, joining Kuwait Finance House, Boubyan Bank, Kuwait International Bank, soon to come Warba Bank, and the Kuwait branch of Saudi Arabian Al-Rajhi Bank.

The operation of this group in Kuwait would no doubt enrich competition, which translates into better services, and would ultimately benefit and bolster trust in the state's banking system and status, the governor stressed.

Ahli United Bank - ALMUTAHED
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL
Most Viewed Companies
Ticker Price Volume
EMAAR 9.7 5,267,368
JULPHAR 3
EEC 88.53 2,668,195
SAPTCO 38.52 625,023
SECO 17.42 13,590,547
RIBL 19.1 5,134,816
SPIMACO 47.78 425,243
Recent News

SAMA net foreign assets reach SR2.737 trillion
The Kingdom’s M3 money supply growth edged up to 12.3 percent year-on-year in June from a five-month low of 12.1 percent in the previous month, Saudi Arabian Monetary Agency (SAMA) data showed.

GCC projects underpin sustainable development
Driven by higher capital expenditure, GCC countries will see projects underpin their sustainable development and diversification, a new report has shown.

According to QNB, GCC countries ha

Dubai industrial rents up in first half
Enquiries for industrial property in Dubai were significantly stronger in first half of 2014, compared to six months earlier.

However, due to the limited availability of stock, leasing de

Arabtec Q2 net profit up 11pc
Arabtec, the construction company at the centre of Dubai’s stock market turmoil, reported an 11 percent rise in second-quarter profit yesterday, missing analysts’ estimates.

Net profit cli

Saudi water membrane facility project awarded
The Dow Chemical Company has awarded Fluor Corporation the engineering, procurement and construction (EPC) contract for its Reverse Osmosis (RO) manufacturing facility in Saudi Arabia.

Lo

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?