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KUALA LUMPUR: Kuwait Finance House-Bahrain (KFH-Bahrain) has announced the successful closing of the merger between three Bahrain-based Islamic banks Elaf Bank, Capital Management House and Capivest.

This created a strengthened financial institution with a total equity of about US$340mil and total assets in excess of US$400mil spanning the Middle East and North Africa, Europe and Asia, said Kuwait Finance House in a statement. — Bernama