Financial and Banking News


Bank Rescue Package finally Unveiled in Kuwait

The Kuwaiti Government approved a package of measures on 11 August which is designed to relieve the country's commercial banks of the enormous burden of non-performing debt which they have been carrying since the stock market crisis of 1982 and its aftermath. The government's approach is to allow debtors a dignified standard of living, reschedule debt over 10-15 years and then step in with...