Press Releases

H.E. Sheikh Salem Abdulaziz Al-Sabah, the Governor of the Central Bank of Kuwait (CBK), announced in a press statement to the Kuwait News Agency (KUNA) that on 5-4-2010, the Minister of Finance issued the Decision No. (17) regarding the registration of Warba Bank in the CBK Islamic Bank Register. Accordingly, the registration was made in that Register.

The registration of Warba Bank is carried out in accordance with the provisions of Law No. 32/1968 amended by Law No. 30/2003 by adding a special section on Islamic Banks to the third part of the previously mentioned law No. 32 concerning Currency, Central Bank of Kuwait, and the Organization of Banking Business.

H.E. the Governor concluded his statement by indicating that Warba Bank is the sixth bank registered in the CBK Islamic Bank Register which enhances the experience of applying the Law concerning Islamic banks in the State of Kuwait, and strengthens the competitive principle in a manner which serves the customers in particular, and the national economy in general. These banks are respectively as follows:

• Kuwait Finance House.
• Boubyan Bank.
• Kuwait International Bank.
• Al-Rajhi Banking & Investment Corporation (Al-Rajhi Bank-Kuwait branch).
• Ahli United Bank.
• Warba Bank.