Kuwait Finance House (KFH) said that, in coordination with Ahli United Bank - Bahrain, and with an official request to the Central Bank of Bahrain and the Central Bank of Kuwait, the two banks agreed to postpone the implementation of procedures The offer to acquire 100% of the issued and paid shares of the Bahraini Bank until December 2020 temporarily due to the exceptional circumstances.

According to the current circumstances of the Corona Virus pandemic, and the instructions of the official authorities in Kuwait to disrupt the business, your house’s board decided, in the interest of The interests of shareholders and investors in both banks should suspend the implementation of the acquisition offer procedures temporarily in Kuwait and Bahrain until December 2020, with the announcement of a later schedule and documents related to the implementation of the acquisition offer procedures, in line with the requirements of the Central Bank of Bahrain, indicating that it will be disclosed in Then on any developments related to this matter.

On his part, Ahli United Bank disclosed to its shareholders developments regarding the postponement of the conditional voluntary offer, submitted by Kuwait Finance House to acquire 100% of the ordinary shares issued and paid to Al Ahli Bank United.

Al Ahli United added that the revised timetable and documents related to the implementation of the acquisition offer will be announced in a timely manner, according to the requirements of the Central Bank of Bahrain.