Financial and Banking News
Kuwait Increases Interest Rate Spreads To Benefit Banks
The Central Bank of Kuwait has cut its discount rate by 1/2% to 7% andincreased the maximum permitted lending rates. The changes will reduce localbanks' cost of funds and give them the possibility of earning more money fromloans, if credit conditions improve. The changes will adversely affect Kuwaiticonsumers, who will have to pay more for loans and will receive less...