KFH studies the creation of one of the largest Islamic banks in the Middle East with Ahli United Bank

KFH President Hamad Al Marzouq said Sunday that KFH was discussing with Ahli United Bank in Bahrain the possibility of establishing one of the largest Islamic banks in the Middle East.

"This step is part of KFH's growth and expansion strategy at the regional and international levels, underlining that the economic and financial conditions in the region call for serious consideration. of these trends. " These trends are aimed at creating large financial entities financial capacity and self-management of competition (19659004) and expect that this strategic approach has positive benefits, whether in terms of improving profitability or the quality of the assets, or the diversity of the risks and the geographical distribution (KFH) and

The advantages of the creation of a large entity will allow the Bank to play an active role in the supply of advanced Islamic banking services to clients and the ability to provide adequate financing for major projects inside or outside of Kuwait. In line with Kuwait's position as a sponsor (Kuwait), which has translated into Kuwait's strategic vision (Kuwait 2035) by transforming Kuwait into a financial and trading center.

The process of studying this strategic option will be done in several stages, The first is the assessment by international consultants to determine the initial international exchange rate between the shares of KFH and (United) financial statements published for them.

The second step is the surveys of ignorance that will be done on both banks before the inflation rate

If both phases are completed and both banks are The third and final phase requires the preparation of the future work plan of the new banking entity and the executive procedures. In Kuwait, Bahrain or any other country,

Al Marzouq stated that the final approvals for the acquisition would be subject to the approval of the Central Bank of Kuwait and other authorities of Kuwait. Regulations and General Meetings of the Two Banks. [ad_2]
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