Monday 22 February 2010

Change of Ownership at Kuwait International Bank?


AlQabas reports that a group comprising a local company and some individual investors has formed to buy KIB (the ex Kuwait Real Estate Bank).   KREB converted to an Islamic Bank in 2005/2006.  

The acquirers will need Central Bank of Kuwait approval as well as an agreement with the BuKhamseen Group, the major shareholder. 

A while back you'll recall that there was news about the Settlement Committee taking action against Mr. Jawad Bu Khamseen.  Earlier posts here and here.  I wonder if this might be related to the potential for a sale of the Bu Khamseen Group's interests in KIB.

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