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


31/03/2010 00:00 AST

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.

KUNA
Ahli United Bank - ALMUTAHED
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | News Archive
Most Viewed Companies
Ticker Price Volume
SAGRINSURANCE 29.44 2,820,651
TAWUNIYA 76.22 135,406
SABIC 66.49 9,104,932
GISS 33 1,594,014
RIBL 11.14 409,485
JARIR 128.96 76,437
EMAAR 5.62 32,832,439
Recent News

Alba appoints four Bahrainis as managers
Four Bahrainis have taken up managerial positions in key departments at the aluminium smelter, Alba announced yesterday.

The new appointees are: Nezar Hameed Ali as manager of operation su

Top industry fair to focus on career opportunities
Insights into careers in the industrial sector will be made available to Bahrain’s future working population at the Northern Gulf region’s biggest industrial showcase hosted by Bahrain.

O

Oman LNG supports social welfare initiatives
Characteristic of its many initiatives to promote social development in the country, Oman LNG inked a total of seven agreements to upgrade services and facilities at seven recognised care providers.

Oman's SME sector can help a nation weather crisis: Entrepreneur
A strong small and medium enterprise (SME) sector can help a country in times of financial crisis and plays a key role in economic diversification, says Zièd Bahrouni, an Oman-born entrepreneur.
<

Oman’s natural gas production and imports grow by 5.6% in 2015
Oman’s natural gas production and imports rose 5.6 per cent to 39,806 million cubic metres (MNCM) in 2015, up from 37,687 MNCM in 2014.

Of this, while non-associated gas and imports showe

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

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?