Khaleeji Commercial Bank and Bank Alkhair sign MoU to evaluate the feasibility of a merger
3 June 2013
Khaleeji Commercial Bank B.S.C. (KHCB), an Islamic Retail Bank incorporated in Bahrain, and Bank Alkhair B.S.C. (c), an Islamic Investment Bank incorporated in Bahrain, announced today that they have signed a Memorandum of Understanding to evaluate the feasibility of merging the two institutions into a larger financial institution. A steering committee with members from both banks is being set up to conduct the due diligence and to pursue the transaction, subject to obtaining the respective shareholder's approval and seeking the necessary regulatory consents.
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