Sheikh Salem Adul-aziz al-Sabah, governor of the Central Bank of Kuwait, said that Al-Rajhi, the biggest Islamic banking group in the world, had submitted an expression of interest in expanding into Kuwait, the first Saudi bank to do so.
Qatar’s Doha Bank also said this week it has received approval from Kuwait’s central bank to begin operations in the country.
Earlier in December Al-Rajhi signed a SR1.7bn ($456m) Islamic financing facility for the development of Jeddah Islamic Port’s third container terminal with Red Sea Gateway Terminal Company.
You might also like...
Iran-Israel conflict risk eases off
26 April 2024
Fifa unveils Aramco as latest global partner
26 April 2024
UAE rides high on non-oil boom
26 April 2024
Qiddiya evaluates multipurpose stadium bids
26 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.