Islamic banking is growing at more than double the pace of conventional banking in Kuwait and strong demand is expected throughout the Arab region, said the chairman of Boubyan Bank, a leading lender in the country.
National Bank of Kuwait (NBK) said on Tuesday it received the Kuwaiti central bank's approval to increase its stake in Boubyan Bank to 60 percent from 47.29 percent.
The approval is valid for three months starting April 8, the statem
Commercial Bank of Kuwait (CBK) said that a regulatory court had dismissed a case brought by Investment Dar over a disputed stake in Boubyan Bank.
CBK and Dar are in litigation over the Boubyan stake which Dar sold to CBK in 2008 to
National Bank of Kuwait (NBK), the country's biggest lender by market value, has received the central bank's approval to raise its stake in Islamic lender Boubyan Bank to up to 60 percent.
Shares of NBK were down 1.6 percent, unde
Kuwaiti Islamic lender Boubyan Bank posted a net loss of 76,599 dinars ($267,100) in the second quarter, compared with a net profit of 8.61 million dinars a year earlier, it said.
Net loss in the first half to June 30 came in at 11.78 mill
National Bank of Kuwait (NBK) bought a 13.2 per cent stake in Boubyan Bank for $295 million in an auction on Wednesday, becoming the largest shareholder in the Islamic lender.
Kuwait Investment Authority (KIA), the Gulf Arab state's sovere
National Bank of Kuwait (NBK), one of the leading banks in Kuwait, has signed an agreement with Commercial Bank of Kuwait (CBK) for acquisition of 40 per cent of shares in Boubyan Bank, an Islamic bank based in Kuwait.
As per the agreement
National Bank of Kuwait (NBK) said on Monday the central bank had renewed its approval for the country's biggest bank by assets to buy up to 40 per cent in Islamic lender Boubyan Bank.
The new three-month approval period started on Mar
Dubai’s master developer, Nakheel, said work was progressing as per schedule at the Jumeirah Village and it had started handing over 300 villas at the new Nakheel community located in the heart of Dubai.
Nakheel has sold 96 per cent of ava
Kuwaiti Islamic lender Boubyan Bank said on Sunday two of its board members have resigned without giving a reason.
Vice Chairman Bader Al-Homaidhi and Bader Alajeel, who represents sovereign wealth fund Kuwait Investment Authority (KIA) on