The National Bank of Kuwait (NBK) will open its Full Commercial Banking (FCB) branch in Al-Seef District in Bahrain on August 10, 2003. The new branch will operate under an on-shore license providing a full range of financial services.
"NBK has had a presence in Bahrain as an "offshore" bank for more than two decades,” said NBK's Chairman, Mohammed A Al-Bahar. "However, prompted by our regional expansion strategy, and in view of Bahrain's special standing as one of the most important financial centers in the Arab world, we decided to do business here as an on-shore bank as well."
NBK has an international network that spans major financial centers including London, New York, Paris, Geneva, Bahrain, Lebanon, Singapore, Vietnam and Thailand. Furthermore, NBK is planning to open new branches in Saudi Arabia and Jordan. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
