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 | AUG | SEP | OCT
Most Viewed Companies
Ticker Price Volume
EMAAR 10.35 18,139,980
SABIC 116.18 5,746,668
SPIMACO 46.74 1,153,774
RIBL 20.33 1,160,267
SORAYAI 21.71 2,346,253
EEC 85.73 1,781,277
TAWUNIYA 69.17 822,764
Recent News

Al Mazaya Holding posts 585% jump in profit by the end of 3Q 2014
Al Mazaya Holding Company has announced its financial results for the first nine months of the year 2014. The company recorded net profits of Dh73.5 million over the period, compared to Dh10.73 milli

Strong third quarter propels Deyaar’s net to Dh193.04m
Net profits weighed in at a substantial Dh193.04 million for Deyaar Development over the first nine months, helped by a Dh78.47 million recorded during the third quarter. This compares with Dh87.15 m

Bank results affirm improving asset quality and profitability
More than half a dozen UAE banks reported robust third quarter results on Wednesday reinforcing the improvement in asset quality and profitability of the UAE banking sector.

Emirates NBD, th

Developers rush to pick up land parcels in Dubai
The race is heating up among developers to acquire large-sized plots in the less developed freehold areas of Dubai and before land values start to firm up again. The locations in and around Dubai Wor

Encouraging signs of mortgage offtake in Dubai
If you do a Google search on the word “mortgages”, it will throw up over 6.1 million results in 0.30 seconds. I am sure a few years ago, during the peak of recession, the same word would have scared

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?