Financial and Banking News
Central Bank Approves Merger between Industrial and Real Estate Banks
The directors of the Central Bank of Kuwait have approved plans submitted bydirectors of the Industrial Bank Kuwait (IBK) and Kuwait Real Estate Bank (KREB)to merge their two institutions. The Chairman of IBK, Mr. Salih Muhammad Yusuf,confirmed the merger plans on 3 December. The new institution is to act as aninvestment bank. IBK and KREB are both...