07 April 2010
KUWAIT - Warba Bank is now registered with the Central Bank of Kuwait (CBK) on the "Operating Islamic Banks" list and the listing is effective as of April 5, virtue of recommendation by the Finance Minister, the CBK Governor said.
Governor Sheikh Salem Abdelaziz Al-Sabah told KUNA the listing was virtue of articles of law 32/68, amended by law 30/2003 on creation of an Islamic Banks list in the articles and administrative sections dealing with regulation of the banking and finance activity in the State of Kuwait.
He noted the bank is the sixth on the list, and its addition would boost competition which would in turn be in the best interest of both clients and the state's overall economy.
The list thus includes Kuwait Finance House, Boubyan Bank, Kuwait International Bank, Al-Rajhi Bank branch, Al-Ahli United Bank, and now Warba Bank.
KUWAIT - Warba Bank is now registered with the Central Bank of Kuwait (CBK) on the "Operating Islamic Banks" list and the listing is effective as of April 5, virtue of recommendation by the Finance Minister, the CBK Governor said.
Governor Sheikh Salem Abdelaziz Al-Sabah told KUNA the listing was virtue of articles of law 32/68, amended by law 30/2003 on creation of an Islamic Banks list in the articles and administrative sections dealing with regulation of the banking and finance activity in the State of Kuwait.
He noted the bank is the sixth on the list, and its addition would boost competition which would in turn be in the best interest of both clients and the state's overall economy.
The list thus includes Kuwait Finance House, Boubyan Bank, Kuwait International Bank, Al-Rajhi Bank branch, Al-Ahli United Bank, and now Warba Bank.
© KUNA (Kuwait News Agency) 2010
