KUWAIT, Sept 25 (KUNA) -- Kuwait Finance House (KFH) announced here on
Sunday its branch in the Kingdom of Bahrain (KFH-Bahrain) is leading
preparations for the merger of three Islamic banks in Bahrain.
The possible merger will lead to the emergence of one of the biggest
Islamic Sharia-compliant banking entities as a nucleus for even larger mergers
in the region, KFH CEO and Managing Director of KFH-Bahrain Abdul-Hakim
The potential entity will have a capital of USD 400 million and asset base
valued at USD 500 million, a KFH statement quoted Al-Khayat as saying.
He predicts the merger talks will take six to nine months to complete,
affirming that the three involved banks are interested in seeing the process
succeed at an early date.
The role of KFH-Bahrain in the process is to coordinate and provide
consultancy to the three banks thanks to its close ties with them and its long
experience in Islamic banking on regional and international scales. (end)
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