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Saudi's Al-Rajhi Wins Kuwait License Approval- KUNA - ASHARQ AL-AWSAT English Archive
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KUWAIT (Reuters) – Saudi Arabia’s Al-Rajhi Bank has won approval to open a branch in Kuwait, the Gulf state’s central bank said in a statement carried by the state news agency.

“The governor of the central bank Sheikh Salem Abdul-Aziz al-Sabah announced the initial approval to license Al-Rajhi Bank to open a branch in Kuwait,” KUNA reported on Monday.

The world’s largest Islamic lender is the latest regional lender to enter the Kuwaiti market.

Qatar National Bank and National Bank of Abu Dhabi have already started operating, while Doha Bank is expected to begin operations during the first half of 2008, KUNA said.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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