Middle East Economic Survey


No 28


CBK Ushers In Sweeping Reforms To Kuwaiti Banking Sector

The Central Bank of Kuwait (CBK) is ushering in sweeping changes to the Kuwaiti banking sector, which will see, possibly as early as this year, foreign banks setting up operations in the country for the first time in 36 years and an increase in the number of Islamic banks from one to three. The CBK will also take on new powers which will bring its practices closer to those of central...