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Tue 22 Sep 2015 03:34 PM

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Kuwait Finance House CEO rules out sale or merger of Malaysian unit

The country's largest Islamic bank says it will instead "begin restructuring the unit with immediate effect"

Kuwait Finance House CEO rules out sale or merger of Malaysian unit

Kuwait Finance House (KFH) has ruled out a sale or merger for its Malaysian unit, its chief executive told Reuters on Tuesday.

Mazin Al Nahedh added the lender, the largest Islamic bank in the Gulf Arab state, "will begin restructuring the unit with immediate effect".

The disclosure from KFH comes after a source familiar with the matter told Reuters last week that Qatar National Bank had bid to buy the unit, with the Qatari lender later acknowledging it was in early talks about an acquisition.

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