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Tue 16 Feb 2010 09:54 AM

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Ahli United Bank gets nod to buy 40% of Libyan Bank

Bahraini bank to buy stake in the United Bank for Commerce & Investment - report.

Ahli United Bank gets nod to buy 40% of Libyan Bank
BAHRAINI BANK: Ahli United Bank is headquartered in Bahrain.(Getty Images)

Ahli United Bank received approval from the Bahrain and Libyan central banks to acquire 40 percent of the United Bank for Commerce & Investment, according to a Bloomberg newswire report on Tuesday.

 Ahli United Bank disclosed this information in a statement to the Kuwait Stock Exchange.

Headquartered in Bahrain, Ahli United Bank offers a range of conventional and Sharia-compliant banking services to customers across the region.

AUB has an integrated network of seven subsidiary and managed affiliate banks with 118 branches in seven countries across Bahrain, Kuwait, Qatar, Oman, Iraq, Egypt and the UK.

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