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
Most Viewed Companies
Ticker Price Volume
SPIMACO 51.25 284,523
RIBL 21.5 414,271
WALAA 34.5 767,088
EMAAR 11.6 22,703,068
ALMARAI 81.5 483,057
JULPHAR 3.01
MESC 20.35 1,187,045
Recent News

CMA approves TADCO request to increase capial by right issues
Tabuk Agriculture Development Company ("Tadco") submitted a request to the CMA to approve its SAR 250,000,000 capital increase by way of rights issue. The price and number of the new shares to be off

CMA approves Maaden Request to increase capital by right issues
Saudi Arabian Mining Company ("Ma’aden") submitted a request to the CMA to approve its SAR 5,600,000,000 capital increase by way of rights issue. The price and number of the new shares to be offered

Saudi CMA announces IPO of Electrical Industries Company
The CMA Board has issued its resolution approving Electrical Industries Company's initial public offering of (13,500,000) shares representing (30%) of the Company’s share capital. A portion of the of

Industries Qatar announces board changes
Doha: Industries Qatar (IQ) issued a brief statement regarding changes by Qatar Petroleum to IQ’s board of directors and executive management in line with its authority under IQ’s Articles of Associa

QE pulls back ahead of S&P upgrade
DOHA: Heavy profit taking by local institutional investors pulled Qatar stocks down yesterday, reversing the bourse’s strong positive performance in the previous session. The benchmark index slid 1.4

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?