VOL. XLIV

No. 26

25-June-2001

KUWAIT

Kuwaiti Banks Report Solid 2000 Performance Amid Growing Competition Pressures

The announcement by the Kuwaiti cabinet on 12 June that it had approved a draft law allowing foreign banks to access the domestic financial market, coupled with the imminent liberalization in line with WTO demands for an equitable operating environment by the year 2003, may have given some Kuwaiti banks food for thought. But the solid profitability recorded by all seven commercial...