BBK and Ithmaar Holding sign acquisition plans MoU

SectorFinancial Services

Dr. AbdulRahman Ali Saif, CEO of BBK and Ahmed Abdul Rahim,, CEO of Ithmaar Holding The Bank of Bahrain and Kuwait (BBK), one of the largest commercial banks in Bahrain, and Ithmaar Holding, the parent of Ithmaar Bank, which operates the largest Islamic retail banking network in Bahrain, signed (ed note: 14/09/20) a Memorandum of Understanding (MoU) on the potential acquisition by BBK of Ithmaar Bank’s Bahrain operations as well as specific assets of IB Capital, a wholly-owned subsidiary of Ithmaar Holding. The MoU, which was signed by BBK Chief Executive Officer, Dr. AbdulRahman Ali Saif, and Ithmaar Holding Chief Executive Officer, Ahmed Abdul Rahim, who is also the Ithmaar Bank Chief Executive Officer, builds on the joint BBK-Ithmaar Holding statement made on 26 August 2020 announcing initial talks more...