Ahli United Bank ( ar, البنك الأهلي المتحد) is a regional

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 ...

based in

Bahrain Bahrain ( ; ; ar, البحرين, al-Bahrayn, locally ), officially the Kingdom of Bahrain, ' is an island country in Western Asia. It is situated on the Persian Gulf, and comprises a small archipelago made up of 50 natural islands and an ...

. Its head office is situated at Manama and is the largest bank in

. It is present in 8 countries in the Middle East and United Kingdom. Ahli United bank's ordinary shares are listed on

Bahrain Stock Exchange The Bahrain Bourse, also called the Bahrain Stock Exchange (BSE), is the stock exchange of Bahrain. As at 2017, 42 companies were listed on the exchange. The exchange operates from Sunday to Thursday. Three indices track the Bahrain Bourse (BHB): ...

since August 2000 and the Kuwait Stock Exchange since June 2006.

History

Ahli United Bank established in May 2000 following a merger between The United Bank of Kuwait and Al-Ahli Commercial Bank, and it is licensed by the

Central Bank of Bahrain The Central Bank of Bahrain (CBB) is the central bank of Bahrain. It is a public corporate entity established by the ''Central Bank of Bahrain and Financial Institutions Law 2006.'' It was created on 6 September 2006. ''Decree No. 64 of 2006 with ...

under a retail banking license. Following the merger, both entities became fully owned subsidiaries of Ahli United Bank.

Operations

The AUB (Ahli United Bank) Group provides retail banking,

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, ...

treasury A treasury is either *A government department related to finance and taxation, a finance ministry. *A place or location where treasure, such as currency or precious items are kept. These can be state or royal property, church treasure or i ...

and investment services,

private banking Private banking is banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs)—defined as those with very high levels of income or sizable assets. A bank that ...

and

wealth management Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-high ...

services and Islamic banking products and services. Additionally, the Group also provides life insurance products in both conventional and

Takaful Takaful ( ar, التكافل, sometimes translated as "solidarity" or mutual guarantee) Khan, ''What Is Wrong with Islamic Economics?'', 2013: p.403 is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic ...

schemes. In 2016, Ahli United Bank started its operations in the

UAE The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia (The Middle East). It is located at th ...

through Ahli United Bank Limited (AUBL) in DIFC,

Dubai Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...

, under a category 1 license. In 2018, Ahli United Bank signed an agreement with Bahrain’s labor fund, Tamkeen, to provide a BHD 40 million portfolio for subsidized financing to eligible medium and large-sized enterprises in

Major shareholders

*Public Institution For Social Security - Kuwait (18.67%) *Social Insurance Organization - Bahrain (10.01%) *Tamdeen Investment Co. - Kuwait (7.71%)

Business divisions

The AUB Group operations consist of four core business divisions, all also offering Islamic finance products: Corporate Banking, Treasury and Investments, Retail Banking, Private Banking and Wealth Management.

Islamic finance

Ahli United Bank provides Sharia-compliant banking services through the Islamic banking subsidiary, Ahli United Bank K.S.C.P., Ahli United Bank (UK) PLC. In April 2010, the Bank of Kuwait and the Middle East was converted to a fully Sharia-compliant Islamic banking institution, and its name was changed to Ahli United Bank K.S.C. After that, the Group launched Islamic banking services in the first quarter of 2013, through an associate in

Oman Oman ( ; ar, عُمَان ' ), officially the Sultanate of Oman ( ar, سلْطنةُ عُمان ), is an Arabian country located in southwestern Asia. It is situated on the southeastern coast of the Arabian Peninsula, and spans the mouth of ...

, Ahli Bank S.A.O.G. The AUB Group launched its Islamic banking services formally under the name, Al-Hilal.

Entities

*Ahli United Bank B.S.C *Ahli United Bank B.S.C. (DIFC Branch) *Ahli United Bank (UK) P.L.C *Alhilal Islamic *Ahli United Bank (Egypt) S.A.E *Ahli United Bank K.S.C.P *Ahli Bank S.O.A.G *Commercial Bank of Iraq P.S.C *United Bank for Commerce & Investment S.A.L.

Regional awards

*2009 – Best Bank in Middle East Award – Global Finance *2012 – Euromoney Awards for Excellence *2014 – Best Regional Bank in the GCC – Capital Finance International *2016 – Middle east bank of the year – The Banker *2016 – Best Regional Bank in the GCC – Capital Finance International

References

{{Authority control Banks of Bahrain