CAIRO, July 6 (Aswat Masriya) - The Kuwaiti Al Ahli Bank received approval from the Kuwaiti central bank to acquire 98.5 percent of Piraeus Bank's Egyptian division, it announced on Monday. 

In a statement to the Kuwaiti stock exchange, Al Ahli Bank said it is still waiting on approval from Egypt's central bank before completing the deal.

Last month, the Kuwaiti bank said it reached a deal to buy the Egyptian division of Greece's Piraeus Bank for $150 million.