KAMCO Invest Board of Directors Recommends Changing Company Name to "Buran Capital for Investment"

Kuwait Finance House (KFH) subsidiary, Kamco Invest, a leading regional non-banking financial institution managing one of the largest asset portfolios in the region, announced that its Board of Directors recommended during its meeting to the General Assembly of the Company that the company’s name be changed from “Kamco Invest Company” to “Bourkan Capital Invest Company,” subject to the approval of the General Assembly and the completion of the necessary regulatory and legal procedures.

The proposed name change follows Bourkan Bank’s indirect acquisition of a majority stake in Kamco Invest through United Gulf Bank, marking a strategic milestone in the ongoing evolution of the relationship between the two entities. It also reflects the natural progression of cooperation that has grown over the past years, as Kamco Invest and Bourkan Bank have worked to enhance integration and offer more comprehensive banking and investment products and services to each other’s customer base.

The proposed name change goes beyond mere corporate identity rebranding; it aims to strengthen the company’s position within the broader Bourkan Bank ecosystem and provide a stronger platform for future growth. By increasing the alignment between the integrated capabilities, distribution channels, and customer relationships of both entities, the strategic alignment is expected to contribute to the development of more integrated financial solutions, facilitate access to investment opportunities, and enhance the overall customer experience.

Furthermore, the proposed name change reflects the company’s aspiration to develop its established investment platform and leverage opportunities arising from its closer integration with Bourkan Bank. This includes exploring additional areas of cooperation in wealth management, asset management, banking investments, financial brokerage, and other investment-related services, while continuing to meet the needs of institutional, corporate, and individual clients.

In addition, the proposed name change will not affect the company’s adopted governance structure or its commitments to its shareholders. Following the completion of the name change, the company will continue to operate as an administratively independent entity listed on the Kuwait Stock Exchange, under the supervision of its own Board of Directors and management team. The Board of Directors and executive management will continue to be committed to protecting the rights and interests of all shareholders, including minority shareholders, and ensuring that the company continues to conduct its business in accordance with applicable regulatory frameworks and corporate governance standards.

Commenting on the announcement, Chairman Sheikh Talal Al-Ali said, “The proposed name change represents an important milestone in the company’s ongoing development journey and reflects the progress achieved through our relationship with Bourkan Bank. It also provides a stronger platform to build on our established capabilities, continue achieving sustainable growth, and create long-term value for our shareholders and clients.”

He added, “The company will continue to operate within the adopted governance framework, under the supervision of its Board of Directors and executive management, while remaining listed on the Kuwait Stock Exchange. We reaffirm our commitment to protecting the rights and interests of all shareholders and reinforcing the principles of transparency, accountability, and sound corporate governance.”

For his part, Chief Executive Officer Faisal Sarrouh said, “Over the past years, Kamco Invest and Bourkan Bank have made tangible progress in developing synergies between banking and investment expertise to deliver greater value to clients. The proposed name change is the natural next step in this journey and provides a platform to continue growth under a unified identity.”

He added, “Our focus is on translating this strategic alignment into tangible benefits, including a smoother customer experience, expanded access to financial solutions, enhanced distribution capabilities, and continued development of products and services that respond to evolving customer needs. This step also creates opportunities to leverage our combined capabilities more efficiently, enhance operational efficiency, and support sustainable business growth.”

It is worth noting that the proposed name change remains subject to the approval of the company’s General Assembly and the completion of applicable regulatory and legal procedures. The implementation timeline and related branding steps will be announced in due course.