KFH okays merger of Al-Ahli Bank Bahrain:
Kuwait Finance House (KFH), which works according to Islamic Sharia, has approved the decision to merge Al-Ahli United Bank of Bahrain, which owns traditional assets, in line with a fatwa (religious opinion), reports Al-Rai daily quoting informed sources.
They explained that this fatwa is based on three Islamic principles. The first one is that unavoidable situations could pave way for allowing actions that are prohibited by Islam. These situations should be deemed as dire affecting the survival of human beings. Therefore, steps banned by Islam will remain prohibited except during critical circumstances when it is the matter of life and death.