By: Amr Adel
Manama – Mubasher: The Central Bank of Bahrain (CBB) has received two merger requests from Bahraini banks, Chairman of International Islamic Financial Market (IIFM), Khalid Hamad, said on Monday.
On the sidelines of the World Islamic Banking Conference (WIBC) 2016 in Bahrain, Hamad told Mubasher that the two requests are still under consideration.
Hamad pointed that the first request was submitted by GFH Group and Bank Alkhair, but did not reveal any details about the second one.
The Executive Director said that there are merger talks between several other local banks to be announced soon, which are aiming at strengthen the banks’ capitals and boost their efficiency and competitiveness.
Since 2009, 11 Bahraini banks had been merged in to four banks.
Translated by: Elwy el-Manzalawy
