Kuwait Finance House, the country's biggest Islamic lender, said on Monday its Turkish unit has obtained a licence to operate in the United Arab Emirates.

The new bank, the Kuwait Turkish Participation Bank, will operate in the Dubai International Financial Center (DIFC), KFH said in a statement.

"The bank would also serve as a financial consultancy and would provide intermediary services for companies in the region with a focus of investment to Turkey," KFH-Turkey chief executive Ufuk Uyan said in the statement.

In September, KFH-Turkey won a license to operate in Germany and said it planned to expand into other European countries.-Reuters