– Burgan Bank announced Tuesday the approval of the Central Bank of Iraq to sell Burgan’s ownership stake in the Bank of Baghdad amounting to 51.8 percent to the Jordan-Kuwaiti Bank.

In a disclosure published on the website of Boursa Kuwait, Kuwait’s stock exchange, Burgan Bank said that the completion of this process is subject to the fulfillment of legal documents and the requirements of the Iraq Stock Exchange.

Established in 1977, Burgan Bank is the youngest conventional Bank and second largest by assets in Kuwait, with a significant focus on the corporate and financial institutions sectors, as well as having a growing retail, and private bank customer base

Source: Kuwait News Agency