Ahli United Bank


Ahli United Bank is a regional bank based in Bahrain. Its head office is situated at Manama and is the largest bank in Bahrain. 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 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 under a retail banking license. Following the merger, both entities became fully own subsidiaries of Ahli United Bank.

Operations

The AUB Group provides retail banking, corporate banking, treasury and investment services, private banking and wealth management services and Islamic banking products and services. Additionally, the Group also provides life insurance products in both conventional and Takaful schemes.
In 2016, Ahli United Bank started its operations in the UAE through Ahli United Bank Limited in DIFC, Dubai, 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 Bahrain.

Major shareholders

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

Entities