KUWAIT, March 15, (KUNA): The government of Kuwait approved a bill Sunday evening to changing the name of the Bank of Kuwait of the Middle East (BKME) into Al-Ahli United Bank.
Minister of Commerce and Industry Ahmad Al-Haroun, speaking to KUNA after a weekly cabinet meeting, said Al-Ahli United Bank would function in compliance with Islamic Sharia laws.
The cabinet, added Al-Haroun, also approved a bill to increase capital of Burgan Bank from KD 104 million to KD 140 million, with face value of 100 fils and a bonus issue of 180 fils.
The cabinet also agreed to change Burgan Bank’s statute, noted Al-Haroun.