Financial and Banking News


$2bn of Kuwaiti Reserves Lent to 17 Principal Borrowers 

Figures revealed by the Kuwaiti Minister of Finance, Mr. Jassim al-Khurafi, regarding the distribution of special loans by KFTCIC and KIC in the aftermath of the Suq al-Manakh crisis indicate that 17 principal borrowers (sometimes borrowing in the name of their own corporate entities or jointly with associates) took KD597.4mn ($2bn) or 80% of the total amount lent. The funds...