27-DEC-93/3 JAN 94
Financial and Banking News
Kuwait Cabinet Approves Bill Allowing GCC Investment
The Kuwaiti cabinet approved on 19 December a bill that will allow citizensof the Gulf Cooperation Council (GCC) states to own up to 49% of Kuwaiti banksand insurance companies. Also under consideration is a proposal to allow foreignbanks outside the GCC to own up to 40% of local banks. The bill must next beapproved by the Kuwaiti National Assembly before it can...