LOC12:03
09:03 GMT
ALGIERS, July 2 (KUNA) -- A current visit by a delegation of Kuwait Finance
House (KFH) is aimed at opening a branch of the bank in this north African
Arab country, the KFH managing director said on Monday.
Badr Al-Mukhaizeem, also member of the board of the Kuwaiti Banks
Federation, told KUNA that the delegation would seek approval of the the
governor of the Central Bank of Algeria, at a meeting due later today.
The branch bank capital will not be less than 100 million US dollars, he
said.
But Al-Mukhaizeem indicated that the delegation was also interested in
exploring potential investment opportunities in the country, namely in the
banking, technological, health and aviation sectors.
He indicated that the nature of the current mission is identical and
related to a visit, paid by a delegation of Kuwait Chamber of Industry and
Commerce on May 1.
The KFH, founded by the late Amir Sheikh Jaber Al-Ahmad Al-Sabah some 30
years ago, has investments, estimated at more than USD 30 billion. (end)
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