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Kuwait gives ICBC approval for branch

: Tuesday, May 20 - 2014 @ 00:53

Kuwait has granted its approval to China’s biggest bank, Industrial and Commercial Bank of China, to open a branch in the Gulf country, Reuters has reported. Last March, Kuwait said it would allow foreign banks to open multiple branches to spur growth. Central bank governor Mohammad Al-Hashel said the central bank had put ICBC in the official register of foreign banks after it got approval from the finance ministry to open a branch. It will be the ICBC’s fourth branch in the region after Doha, Abu Dhabi and Dubai.

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Tuesday, May 20- 2014 @ 0:53 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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