Several banking and financial experts agreed on the Islamic banking law, which was passed in Kuwait a year ago. The law will push Islamic banking transactions forward as it sets up a sound legal climate for such activities, KUNA reported.
Board Chairman of the leading investment company, The Investment Dar, Mr. Adnan Al-Musallam highlighted in a paper submitted to the "4th Conference on Banks and Islamic Financial Institutions" the Central Bank of Kuwait's approval to establish a USD100 million-capital Islamic bank, and the transformation of the Kuwait Real Estate Bank into an Islamic one.