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Malta-based FimBank's majority shareholding transferred to United Gulf Holding

Bahrain-based wholesale lender United Gulf Bank BSC's holding of 192,395,274 shares in Malta-based FimBank Plc was transferred to United Gulf Holding Co. BSC, as part of a restructuring in Kuwait Projects Co. (Holding) KSC .

Consequent to this transaction United Gulf Holding Co. holds a 61.17% stake in FimBank, effective March 15. The transfer of shares was authorized by the Malta Financial Services Authority, as well as the ECB.