Middle East Economic Survey


No 14



NBK Authorized To Increase Boubyan Stake

The National Bank of Kuwait (NBK) has received approval from the Central Bank of Kuwait (CBK) to acquire a controlling stake in local Islamic lender Boubyan Bank, NBK said on 28 March. The approval for NBK to up its shares in the bank to 60% from the current 40% is valid for three months starting 22 March, though the bank will still need to declare this approval to the Kuwaiti stock exchange....