BKME will hold a shareholders' ordinary general meeting and extraordinary general meeting on 10 January to authorize the various steps, including revision of the bank's memorandum and articles of association, in connection with the bank's reversion* to an Islamic bank.
The bank intends to begin operating according to Shari'ah principles beginning in 2Q10.
AlQabas news item here.
(*Reversion in the theological sense. BKME has always operated as a conventional bank).
(*Reversion in the theological sense. BKME has always operated as a conventional bank).
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