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Tuesday, 24 November 2009 23:41 UAE time

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Dar raises Boubyan stake

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 09 August 2007

Kuwait's Investment Dar has raised its stake in Boubyan Bank to almost 20 % as allowed by the central bank, the Kuwaiti stock exchange said on Wednesday.

The Islamic investment firm and affiliates now owned 19.86 % of the Kuwaiti lender, the exchange said on its Web site.

Investment Dar has said it won central bank approval to raise its stake in the Islamic lender to 20 %.

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Boubyan Bank's biggest shareholder is state investment arm Kuwait Investment Authority, which holds 20 %, according to the Web site, down from 21.2 % reported on July 16.

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