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Kuwait's central bank approves Kuwait Finance House-Ahli United Bank deal

Kuwait's central bank conditionally approved the merger between Kuwait Finance House KSCP and Ahli United Bank BSC.

The two banks' boards agreed on their merger terms Jan. 24 and said Kuwait Finance House will offer 1 share for every 2.325581 shares in the Bahraini lender.

The central bank also said the deal is subject to certain prerequisites to ensure it abides by the principles of Islamic Sharia, transparency and free competition protection, according to an Oct. 8 Reuters report.