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
Most Viewed Companies
Ticker Price Volume
GFH 0.21
SECO 14.74 5,260,462
ADIB 6.78 826,911
DARALARKAN 12.5 47,357,023
NBAD 15.05 1,349,794
TAWUNIYA 40.82 2,721,642
BARKA 0.78
Recent News

Trade negotiators struggle ahead of US-Japan summit
Tokyo TALKS between the United States and Japan aimed at a trade deal seen as vital to a broader regional pact are in stalemate, Japan's economy minister said, as negotiators struggle to narrow gaps

Wall Street Weekahead - Spring fever brings hope for US earnings
Earnings season shifts into high gear next week, and with nearly one-third of S&P 500 names set to post results, investors hope the news provides a catalyst to buy stocks and leave the market's rece

India’s forex reserves rise to $309.44bn as of April 11
MUMBAI: India's foreign exchange reserves rose to $309.44 billion as of April 11 from $306.65 billion in the week earlier, the Reserve Bank of India said on Friday.

Changes in foreign curr

Japan's consumer inflation set to reach five-year high
Core consumer prices in Tokyo, a leading indicator of nationwide inflation, appear to have risen by the largest amount for 22 years in April after an increase in Japan's sales tax drove up prices, a

Gold Drops on U.S. Economy; Platinum Falls on Labor Talks
Gold futures fell as signs of gains in the U.S. economy eroded demand for the metal. Platinum dropped amid signs of progress in the labor dispute in South Africa, the world’s biggest producer.

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

Poll

Are you satisfied with your full-service broker?