Kamco Invest Board of Directors recommends changing its name to Barqan Capital for Investment
Board of Directors announces recommendation to change company name
Translated by Qiyas from الراي — Original source
The proposed name change follows Al-Raqan Bank’s indirect acquisition of a majority stake in Kamco Investment 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 the cooperation that has grown over the past years, as Kamco Investment and Al-Raqan Bank have worked to enhance synergies and offer more integrated banking and investment products and services to their respective customer bases.
The proposed name change goes beyond a mere rebranding of corporate identity; it aims to strengthen the company’s position within Al-Raqan Bank’s broader ecosystem and provide a stronger platform for future growth. By deepening the alignment of the two entities’ complementary capabilities, distribution channels, and customer relationships, the strategic alignment is expected to contribute to the development of more integrated financial solutions, facilitate access to investment opportunities, and elevate the overall customer experience.
The proposed name change also reflects the company’s ambition to develop its established investment platform and capitalize on opportunities arising from a closer integration with Al-Raqan Bank. This includes exploring additional areas of collaboration in wealth management, asset management, investment banking, 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 established governance structure or its commitments to its shareholders. Upon 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 and executive management remain committed to protecting the rights and interests of all shareholders, including minority shareholders, and ensuring that the company continues to operate in accordance with applicable regulatory frameworks and corporate governance standards.
Commenting on the announcement, Chairman Sheikh Talal Al-Ali stated: “The proposed name change represents a significant milestone in the company’s ongoing journey of development and reflects the progress achieved through our relationship with Al-Raqan Bank. It also provides a stronger platform to build upon our established capabilities, continue achieving sustainable growth, and create long-term value for our shareholders and customers.”
Al-Ali added: “The company will continue to operate under its established governance framework, under the supervision of its board of directors and executive management, while maintaining its listing on the Kuwait Stock Exchange. We reaffirm our commitment to protecting the rights and interests of all shareholders and upholding the principles of transparency, accountability, and sound governance.”
For his part, Chief Executive Officer Faisal Sarhouh said: “Over the past years, Kamco Investment and Al-Raqan Bank have made tangible progress in developing synergies between banking and investment expertise to deliver greater value to customers. The proposed name change is the natural next step in this journey and provides a platform to continue growing under a unified identity.”
Sarhouh added: “Our focus is on translating this strategic alignment into tangible benefits, including a smoother customer experience, expanded access to financial solutions, and enhanced distribution capabilities, while continuing to develop 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.”
The proposal to change the name remains subject to approval by the company’s general assembly and the completion of applicable regulatory and legal procedures. The implementation timeline and associated branding steps will be announced in due course.
