NBK gets CBK approval to raise its total stake in Boubyan Bank from 40% to 60%

National Bank of Kuwait (NBK), announced that it has obtained approval from the Central Bank of Kuwait's to raise its stake in Boubyan Bank from 40 to 60 percent of the bank's capital. The approval is valid for three months effective  22 March, 2010.

An informed source at NBK said that the bank had already obtained the approval should it wish to increase its stake in Boubyan, provided that NBK declare this approval at the Kuwait Stock Exchange (Bourse) in accordance with CBK instructions.