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Gulf Bank Chairman Bader Nasser Al-Kharafi
Gulf Bank Chairman Bader Nasser Al-Kharafi

Gulf Bank studying transition to sharia compliant banking

KUWAIT: Gulf Bank announced on Tuesday that its board of directors has approved the engagement of an international consultant to conduct a feasibility study on converting Gulf Bank into a sharia-compliant institution.

In an official disclosure on the Boursa Kuwait website, signed by Chairman of the Board of Directors Bader Nasser Al-Kharafi, the bank confirmed it has received no objection from the Central Bank of Kuwait to proceed with the study to transition to an Islamic bank. Gulf Bank will disclose the study’s findings upon completion.

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