it has been decided to postpone the start of updating studies on the merger between Kuwait Finance House (KFH) and Al Ahli United Bank of Bahrain, for the second time, after its previous postponement on the seventh of last May Due to the repercussions of Corona.
According to Arabiya Net, the Central Bank of Kuwait had set new conditions for completing the merger deal, which would have taken place through your home’s acquisition of Al Ahli United, including an update of a study Feasibility.
The dispute over delaying the deal led to the change of former CEO of Baitak Mazen Al-Nahedh, who was in favor of the postponement, while the board of directors of Baitak was against it.
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Baitak explained that the decision has no effect at the present time on the bank's financial position.
and in mid-April, Baitak announced the postponement of the procedures for the acquisition of Al Ahli United Bahrain, in order to study the potential risks of the Corona pandemic and its impact on the two banks' assets.
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