BBK plans to acquire Ithmaar Bank Bahrain Operations, Ithmaar Holding assets

BBK plans to acquire Ithmaar Bank Bahrain Operations, Ithmaar Holding assets

MANAMA: 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 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 earlier statement in

August 2020