Journey of Success
Amir of Kuwait H.H late Sheikh Ahmad Al–Jaber Al–Sabah ratified the inauguration of a British bank to operate under the name “Imperial Bank of Persia”.
Imperial Bank of Persia was the first bank to operate in Kuwait, and it was first located at the heart of the merchants market close to the Ministry of Finance.
Imperial Bank of Persia provided L/Cs in response to the merchants’ needs to import goods and commodities.
Imperial Bank of Persia renamed itself “British Bank of Iran & Middle East”.
In an official inauguration ceremony organized by the bank, the new headquarter was inaugurated in the presence of H.H late Sheikh Ahmad Al–Jaber Al–Sabah and the British Consul in Kuwait.
Imperial Bank of Persia renamed itself “British Bank of Middle East”.
The Bank operated from its new headquarters at Abdullah Al–Salem Street formerly known at that time as the New Street.
An Amiri Decree was promulgated nationalizing the bank to operate as a 100% Kuwaiti bank under the new name “Bank of Kuwait & Middle East”.
Bank of Kuwait & Middle East signed an agreement with the Industrial Bank of Kuwait and the Real Estate Bank of Kuwait (currently Kuwait International Bank) for the establishment of a joint banking centre composed of three separate towers; a tower for each bank.
Bank of Kuwait and Middle East reinforced its international presence as it inaugurated its first office at New York City – USA, and its office at London – United Kingdom.
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