Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Investor engagement in Boubyan Bank to stress Islamic banking competition - CBK  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 26/07/2009

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Kuwait News Agency (KUNA)) The acquiring of shares of Bobyan Bank by an investor or more would stress comptetion in the Islamic banking in particular and the financial and banking sectors in general, said Central Bank of Kuwait (CBK) Governor Sheikh Salem Al-Sabah.

In an interview with Kuwait's Al-Rai newspaper on Sunday, Al-Sabah said that would also contribute in efficiency increase and performance development and would enable the local banking sector to overcome challenges.

He pointed out that banks were given the freedom to perform pressure tests without the interference of CBK to stress the mechanisms of working according to risk management boundaries.

He said that CBK gave permission for seven investment companies to ask socialized counseling bodies to study and assess their situations, but non of the companies requested benefiting from the financial stability law.

Al-Sabah stressed that it was important to stress the growth of national economy.

National Bank of Kuwait (NBK) and Securities Group recently acquired the Kuwait Investment Authority's (KIA) holding in Boubyan Bank via auction, raising NBK's total ownership of Boubyan Bank to 27.5 percent.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help