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Kuwait: Listing Saudi Rajhi bank as an Islamic bank

Posted on 16 February 2010

From Globalarabnetwork.com: Governor of the Central Bank of Kuwait (CBK) Sheikh Salem Abdulaziz Al-Sabah has announced that the minister of finance issued decree 7/2010 to the effect of listing Rajhi banking and investment corporation , Al-Rajhi Bank, as an Islamic bank with the Kuwait Central Bank.

The governor added in a press statement made today to the Kuwait News Agency (KUNA) that listing Rajhi branch as an Islamic bank comes in accordance with the rules of law 32 of 1968 on monetary, the Kuwait Central Bank, the regulation of the banking professions that is amended to law 28 of 2004 which allows the foreign banks to operate in Kuwait through opening branches………………………………….Full Article: Source

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