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Kuwait plans to ease bank regulations

The Central Bank of Kuwait is considering allowing foreign banks to open more than one branch, Al Nahar newspaper reportedon Tuesday, citing the governor.

  • Reuters
  • Published: 00:53 February 20, 2008
  • Gulf News

Kuwait City: The Central Bank of Kuwait is considering allowing foreign banks to open more than one branch, Al Nahar newspaper reportedon Tuesday, citing the governor.

Salem Abdul Aziz Al Sabah said the restriction on foreign banks was "wrong" and is a significant obstacle to them, the newspaper said.

France's BNP Paribas was the first foreign bank to get a licence to operate in Kuwait, about three decades after the country forced out foreign lenders.

HSBC Holdings, Citigroup and National Bank of Abu Dhabi are among foreign banks that have since opened in Kuwait.

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