Kuwait's NBK gets nod for Boubyan buy

* username: rupertbu

National Bank of Kuwait (NBKK.KW) (NBK), the country's biggest lender by market value, has received the central bank's approval to raise its stake in Islamic lender Boubyan Bank (BOUK.KW) to up to 60 percent.

Shares of NBK were down 1.6 percent, underperforming Boubyan's shares which were up 5.4 percent at 0825 GMT.

"The central bank of Kuwait has approved the request of (NBK) to acquire a maximum stake of 60 percent of Boubyan Bank's capital," NBK said in a statement on the Kuwaiti bourse website on Sunday. The approval is valid for three months starting March 22, it added.