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
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 142 76,805
EMIRATESNBD 8.05 185,574
SECO 24.06 865,980
GFH 0.57 185,000
RIBL 10.74 894,909
SABIC 99.89 3,270,560
BAHRI 35.47 808,135
Recent News

Abu Dhabi’s ADNOC ‘hires banks for fuel retailer IPO’
The Abu Dhabi National Oil Company (ADNOC) has picked a local bank and three foreign lenders as bookrunners for the planned initial public offering (IPO) of its retail unit that could raise $1.5 bill

SACO announces new Chairman and Vice-Chairman
SACO announces It's Board of Directors resolution dated 20-07-2017 decided to reappoint Mr. Abdurahman Amin Jawa as Chairman and Mr. Sameer Mohammed Alhamidi as Managing Director and to appoint Mr. A

Saudi Re signed MoU to purchase 49.9% shares of PHBL
Saudi Reinsurance Company Announces The significant development of signing off a memorandum of understanding with Probitas Holdings (Bermuda) Limited (PHBL) to purchase 49.9% of the shares of PHBL. <

SABB board recommends cash dividends for H1 2017
The Saudi British Bank (SABB) announces that the Board of Directors has passed a resolution on Wednesday 19 July 2017 recommending the distribution of interim cash dividends to shareholders for the f

Damac inks home financing tie-up with Amlak
Dubai-based Damac Properties, a leading luxury real estate developer, has partnered with Amlak Finance, a top Islamic home financing provider in the UAE, to offer its existing customers an exclusive

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?