Kuwait Finance House receives approval for potential Ahli United Bank deal

Kuwait Finance House K.S.C.P. received the approval of Kuwait's Competition Protection Agency for the potential acquisition of Bahrain-based Ahli United Bank BSC.

The deal was first announced in 2019 but was subsequently delayed due to the COVID-19 pandemic. The merger would have created the sixth-largest bank in the Gulf Cooperation Council.

Ahli United Bank said in its July 4 statement that it would disclose any relevant developments.