Foreign banks now allowed to open branches in Kuwait

March 26, 2014 10:38 am

Kuwait’s central bank has announced that its board of directors has approved the principals, rules and regulation for the licensing and operations of foreign banks’ branches, and the regulations for opening foreign banks’ representative offices in the country, Kuna has reported. “Permitting foreign banks to open branches is done all over the world and offers competition in the market place whose beneficiary is the consumer,” said the bank’s governor, Dr Mohammad Al-Hashel.