Kuwait’s Warba Bank and Gulf Bank have begun discussions to explore a potential merger aimed at boosting long-term growth and competitiveness in the local Islamic banking sector. The announcement came in separate disclosures to Boursa Kuwait on May 26, leading to a temporary suspension of trading in both banks’ shares for one hour, in accordance...
Bank Nizwa, the premier Islamic bank in Oman, has announced a new Memorandum of Understanding (MoU) with the Health Endowment Foundation (ATHAR). This strategic partnership aims to enhance the role of the health endowment sector in promoting inclusive development, which aligns with national priorities set out in Oman Vision 2040. The agreement was officially signed...
Islamic banks in the Gulf Cooperation Council (GCC) are expected to see a rise in mergers and acquisitions (M&A) in the coming years. This trend is largely driven by the need for competitive advantage and to access growth opportunities, according to Fitch Ratings. The firm’s Head of Middle East Bank Ratings and Islamic Banking, Redmond...