Middle East Economic Survey


No 10



HSBC Gets Initial Approval To Start Operations In Kuwait

The Central Bank of Kuwait (CBK) says it has recommended the granting of a branch license to HSBC Bank Middle East Ltd, although the move is subject to ratification by the Kuwaiti Council of Ministers, an HSBC official told MEES. The ratification is expected within about a month. HSBC sees good business prospects in Kuwait and will issue a detailed statement on its plans once...