October 8, 2019 / 2:15 PM / 9 days ago

Kuwait Finance gains central bank approval for Ahli United takeover

KUWAIT, Oct 8 (Reuters) - Kuwait Finance House has received conditional approval from Kuwait’s central bank for its proposed acquisition of Bahrain’s Ahli United Bank.

The deal depends on a number of requirements to ensure adherence to Islamic Sharia, transparency and protection of free competition, the central bank said in a statement.

KFH announced its plan to take over the Bahraini lender in January. (Reporting by Ahmed Hagagy Writing by Maher Chmaytelli Editing by David Goodman)

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