Business
Warba Bank Signs Full Acquisition of Alghanim Trading Company
KUWAIT CITY, Apr 8: Following final approvals from regulatory and supervisory authorities, including the Capital Markets Authorityand the Central Bank of Kuwait, Warba Bank today announced it has signedthe agreement to fully acquire Alghanim Trading Company W.L.L. The strategic transaction supports the Bank’s expansion into vital sectors and further diversifies its investment portfolioin line with its long-term vision for sustainable growth, while protecting the interests of shareholders, customers and the wider community.
The transaction, valued at KD 498.2 million, results in Warba Bank indirectly owning 32.75% of Gulf Bank’s capital.
Chairman of Warba Bank, Hamad Musaed AlSayer, said:“The completion of Warba Bank’s full acquisition of Alghanim Trading marks an exceptional milestone that reflects the strength of our strategic direction and future-focused growth plan. This step is not only an expansion of the bank’s assets in size and value, but also a reaffirmation of our commitment to delivering added value to our shareholders and customers, and to reinforcing our leadership position in the Islamic banking sector both locally and regionally. It empowers us to provide advanced, innovative services that meet customer aspirations and the evolving needs of the market, today and tomorrow.”
He further emphasized that the full acquisition represents a decisive strategic step toward realizing the bank’s vision of becoming a key player in supporting Kuwait’s national economy by diversifying its business activities and strengthening its presence in value-generating sectors.
“We are proud of this milestone transaction, which aligns with our long-term strategy and confirms our commitment to building a multi-sector, resilient and high-growth Islamic financial institution capable of generating sustainable returns for shareholders,” he added.
The bank noted that the financial impact of the transaction will be reflected in the upcoming quarterly financial results, in accordance with applicable accounting standards and upon completion of the relevant operational and regulatory procedures.
AlSayer also highlighted that the conclusion of this acquisition coincides with the start of the bank’s capital increase subscription period, for which the necessary approvals were previously secured. This offers institutional and individual shareholders an exceptional opportunity to invest in Kuwait’s dynamic banking sector, specifically in an Islamic bank that has cemented its presence locally and regionally, while continuously evolving its services and offerings to meet shifting economic demands.
He added that Warba Bank was originally established by Amiri Decree to serve as a key pillar in supporting Kuwait’s economic development.
“Today, we are proud to be a bank that puts Kuwait at the center of its strategy, where all our profits benefit the nation and its people. Warba’s success is the success of Kuwait. We remain deeply committed to playing an active role in shaping a sustainable economic future for generations to come,” he said.
AlSayer continued by stating that Warba Bank has now entered a new phase of growth and expansion, in line with its vision to be the leading Islamic bank in Kuwait. He emphasized the bank’s ongoing investment in technology and innovation to achieve financial sustainability and contribute to national development in line with Kuwait Vision 2035.
He concluded by noting that the Bank’s investment strategy prioritizes local investment in both fixed assets and human capital, and that Warba Bank currently holds the highest Kuwaitization rate among all local banks. As the newest and most advanced Islamic bank in the country, Warba also maintains a strong track record in digital banking innovation.
Capital Increase for Continued Growth
The capital increase will strengthen Warba Bank’s regulatory capital base and provide the necessary liquidity to support the next phase of expansion and the achievement of its strategic objectives. This move will also enable the Bank to continue investing in digital banking solutions and further develop its portfolio of Sharia-compliant financial products and services.
Kuwait enhances Stock Exchange access for emerging firms with amendments to listing rules.
KUWAIT CITY, July 1: Kuwait’s Capital Markets Authority (CMA) has officially launched a new regulatory environment to support the listing and trading of emerging companies on the Kuwait Stock Exchange (KSE), in cooperation with Boursa Kuwait. The initiative includes the creation of a dedicated platform for these companies, alongside key amendments to existing listing rules.
In a statement released on Tuesday, the CMA confirmed that the move is part of broader efforts to adopt international best practices, promote capital market development, diversify investment tools, and enhance both market competitiveness and transparency — all aimed at bolstering investor protection.
The approved amendments focus on strengthening listing standards by requiring companies to maintain certain conditions, including minimum thresholds for free float shares and their market value. These measures are designed to improve liquidity and ensure sustained compliance with regulatory obligations.
The Authority emphasized that supporting emerging companies is crucial to driving economic growth and aligns with Kuwait’s broader strategic vision. The newly launched market will offer an attractive financing environment for smaller and growing enterprises while providing investors with fresh opportunities governed by high transparency standards.
The regulatory framework is the result of a comprehensive study conducted by the CMA, which formed the basis for drafting specific rules to govern the emerging companies market. The platform is intended to serve as both a support system for these businesses and a dynamic investment space in line with global benchmarks.
The CMA also underscored the importance of continuously evolving the rules that govern listing conditions. This includes safeguarding investor interests by removing companies that fail to meet their obligations and ensuring adequate liquidity by enforcing minimum requirements for free float shares in both the primary and secondary market segments.
Additionally, the Authority reaffirmed its commitment to enhancing executive regulations that protect investors and empower small shareholders to actively participate in corporate decision-making processes.
This latest move is seen as a significant step toward further modernizing Kuwait’s financial sector and creating a more inclusive and diversified capital market landscape.
The Kuwait government approves tougher measures to tackle financial crimes.
KUWAIT CITY, June 30: Kuwait is intensifying efforts to combat money laundering and terrorist financing by enhancing its legislative framework, announced Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam on Monday.
The minister spoke in a statement issued by the Ministry of Finance following the publication of Decree Law No. (76) of 2025 in the official gazette, Kuwait Today. This decree introduces important amendments to Law No. (106) of 2013, reflecting Kuwait’s integrated government efforts to strengthen measures against financial crimes.
During the Cabinet meeting on June 17, the draft of the amended decree law was approved, underlining Kuwait’s commitment to raising the effectiveness of the national response to money laundering and terrorism financing. The amendments align with the requirements of the Financial Action Task Force (FATF) and relevant international standards.
The new decree law includes two significant amendments:
- Article One replaces Article (25) of Law No. (106) of 2013, empowering the Council of Ministers, upon the recommendation of the Minister of Foreign Affairs, to issue necessary decisions to implement United Nations Security Council resolutions related to terrorism, terrorism financing, and the proliferation of weapons of mass destruction under Chapter VII of the UN Charter. These decisions will take effect immediately upon issuance, consistent with Security Council Resolution No. 1373 of 2001. The executive regulations will define the rules for publishing these decisions, appealing them, authorizing the release of frozen funds for essential living expenses, and managing such assets.n
- Article Two adds a new Article (33 bis) to Law No. (106) of 2013, stating that any violation of decisions issued under Article (25) will result in fines ranging from 10,000 to 500,000 Kuwaiti dinars per violation. This penalty complements any additional sanctions imposed by regulatory authorities on financial institutions or designated non-financial businesses.n
The Ministry emphasized that these amendments support the National Committee for Combating Money Laundering and Terrorism Financing by broadening its powers to apply targeted financial sanctions in compliance with FATF standards. This includes the mandatory freezing of assets belonging to individuals and entities listed locally as terrorists, effective immediately upon decision issuance.
Furthermore, the amendments enable the Committee to impose fines on violators and require publishing the national list of designated terrorists on the Committee’s official website, enhancing transparency and meeting international obligations.
Minister Al-Fassam concluded that the updated legislative measures reaffirm Kuwait’s strong commitment to fighting financial crimes, safeguarding national security and stability, and fulfilling its global responsibilities.
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