Gulf Bank obtains no objection from Central Bank for Islamic conversion study

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Kuwait City, June 11: ‏Gulf Bank announced that it obtained no objection from the Central Bank of Kuwait to study conversion to a bank compliant with the Islamic shariaa. The Board of Directors has assigned an international consultant to carry out a feasibility study for the conversion, the bank said in a statement.

‏The bank said in a disclosure signed by Chairman Bader Nasser Al-Kharafi and published on Boursa Kuwait’s website that it obtained the Central Bank’s no objection to carry out the feasibility study. The bank will disclose the results of the study once it is concluded, it added.

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