‘KFH, AUB merger to harm treasury’

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Have not resigned: Lughani

KUWAIT CITY, July 6: National Assembly Secretary General Adel Al-Lughani has denied the rumor spread on social media that he resigned. Al-Lughani stressed the rumor is baseless, and that he is still in office. On the other hand, MP Abdulkareem Al- Kandari said the merger of Kuwait Finance House (KFH) and Ahli United Bank (AUB) must be suspended until the formation of a new government to ensure the deal does not harm the public treasury. He added the decision of the Board of Directors of the Central Bank of Kuwait to approve the deal in its meeting before the end of its term raises doubt about the deal and the extent of its transparency.

In another development, MP Osama Al- Menawer submitted a proposal to terminate the agreement signed by Kuwait and Egypt in 1965; stating that Kuwait shoulders the cost of scholarships for Egyptian students. Al-Menawer said an expatriate consultant in the Assembly objected, so he decided to submit a petition to the Secretariat General of the Assembly. He added the objection of the expatriate consultant is a hindrance to his job as a legislature. Assembly Speaker Marzouq Al-Ghanim sent cable to Speaker of the National Assembly of Malawi Catherine Gotani Hara to greet her on the National Day of her country. By Saeed Mahmoud Saleh Arab Times Staff

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