Bahrain-based Ahli United Bank BSC said Aug. 29 it completed requisite due diligence on the proposed merger with Kuwait Finance House KSCP and submitted the report to the latter's board of directors for review and evaluation.
The due diligence was carried out by specialist professional advisors appointed by the Bahraini lender.
Kuwait's Public Institute for Social Security, the country's public pension fund, recently gave the two banks initial approval for the merger which was first announced in January.
