Ahli United Bank of Kuwait (AUBK) is a traditional

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

founded in 1971, providing

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and t ...

private Private or privates may refer to: Music * " In Private", by Dusty Springfield from the 1990 album ''Reputation'' * Private (band), a Denmark-based band * "Private" (Ryōko Hirosue song), from the 1999 album ''Private'', written and also recorde ...

and

corporate banking Wholesale banking is the provision of services by banks to larger customers or organizations such as mortgage brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, ins ...

services with headquarters in

Safat Safat Square ( ar, ساحة الصفاة ) is a major historical commercial square in Kuwait City, Kuwait Kuwait (; ar, الكويت ', or ), officially the State of Kuwait ( ar, دولة الكويت '), is a country in Western Asia. It ...

Kuwait City Kuwait City ( ar, مدينة الكويت) is the capital and largest city of Kuwait. Located at the heart of the country on the south shore of Kuwait Bay on the Persian Gulf, it is the political, cultural and economical centre of the emirate, ...

. Timeline: * 1941 - founded as the ''Imperial Bank of Persia'', the first bank in Kuwait and affiliated to the British bank with a

concession Concession may refer to: General * Concession (contract) (sometimes called a concession agreement), a contractual right to carry on a certain kind of business or activity in an area, such as to explore or develop its natural resources or to opera ...

from the ruler

Ahmad Al-Jaber Al-Sabah Sheikh Ahmad Al-Jaber Al-Sabah (1885 – 29 January 1950) ( ar, الشيخ أحمد الجابر الصباح) was the tenth ruler of the Sheikhdom of Kuwait from 29 March 1921 until his death on 29 January 1950. Biography Ahmad was the son of ...

* 1971 - concession ended, the bank was 100% Kuwaiti and name was changed to the ''Bank of Kuwait and Middle East'' (BKME) * 2002 - AUB Group became a major shareholder * 2010 - conversion to

Islamic banking Islamic banking, Islamic finance ( ar, مصرفية إسلامية), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economic ...

. In 2016 AUBK was selected as the second safest Islamic bank in Kuwait.

References

External links

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{{Authority control Banks of Kuwait Banks established in 1971 Companies based in Kuwait City Kuwaiti companies established in 1971 Companies listed on the Boursa Kuwait

See also

References

External links