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CBK green light for BKME conversion into Islamic bank

Posted on 15 December 2009

From KUNA: The Central Bank of Kuwait (CBK) gave the green light for the Bank of Kuwait and the Middle East to fully convert into an Islamic bank and for procedures to be taken according to the state’s Corporate Law, the CBK said on Monday.

CBK Governor Sheikh Salem Abdelaziz Al-Sabah said, in a press statement, that the decision was taken by the board in a session last night and was based upon an initial approval of the conversion back in June 2008……………………………….Full Article: Source

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