Al Salam Bank, a Bahrain-based Islamic lender, yesterday announced it has signed definitive agreements to acquire the entire stake in Kuwait Finance House-Bahrain (KFH-Bahrain) from its parent company, Kuwait Finance House Group (KFH).

KFH-Bahrain is a wholly owned subsidiary of KFH Group, an Islamic financial institution headquartered in Kuwait.

The transaction, subject to regulatory approvals, will see Al Salam Bank take full ownership of KFH-Bahrain.

Financial details of the acquisition were not disclosed.

A statement by Al Salam Bank said upon transaction closing, a seamless integration and brand repositioning plan will be implemented to ensure customer experience remains uninterrupted.

The acquirer will provide further updates on the transaction process and any subsequent changes to its operations.

Customers can continue to access all services currently being provided by KFH-Bahrain including but not limited to cards, cheque books, online banking, mobile banking services, branches, ATMs, and the call centre.

Both Al Salam Bank and KFH-Bahrain will keep customers informed with transaction updates.

Customer engagement, banking operations, branch services, and all other banking services will remain fully operational, the statement added.

Further communication on the transaction will be released on a periodic basis.

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (