Purchase price of the transaction settled at $190 million; Acquisition expected to be completed in the first quarter of 2025
Central Bank of Kuwait
Latest in Central Bank of Kuwait
Bahrain
UAE, other GCC nations hike interest rates as US Fed benchmark hits 22-year high
GCC central banks hike interest rates following the Fed’s decision to take benchmark borrowing costs to their highest level since 2001
Capital Markets Authority
Kuwait bans cryptocurrency and virtual assets transactions
By doing so, Kuwait authorities aim to reduce the risks and negative consequences associated with investing or dealing in virtual assets
Central Bank
Kuwait’s central bank announces 0.5 percent hike in discount rates to 3.5%
Indian central bank also announced a 35 basis points hike in lending rates to 6.25 percent on Wednesday
Central Bank
Central banks in the Gulf follow US Fed move to raise interest rates
Most Gulf central banks follow the US Fed because their currencies are pegged to the US dollar
Central Bank of Bahrain
Gulf central banks follow US Fed move to raise interest rates to curb inflation
The Federal Reserve announced a consecutive 0.75 percentage point interest rate hike – in a bid to rein in inflation and avoid recession
banking
Central Bank of Kuwait launches e-payment service amid digital expansion plans
New system allows all local payment and transfer transactions among banks operating in Kuwait and to customers’ accounts to go through within seconds
Central Bank of Kuwait
Kuwait must address trio of ‘imbalances’ to achieve economic stability and sustainability
Central Bank of Kuwait governor Dr Mohammad Y. Al-Hashel said serious and impactful financial and economic reform measures are urgently required
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Central Bank of Kuwait
Kuwait asks banks to employ citizens in top leadership positions
Kuwaiti nationals should comprise at least 70 percent of the banking sector’s upper and middle-level managements
Central Bank of Kuwait
Kuwait Central Bank allows lenders to distribute 2020 dividends
Kuwait Banking Association had previously said there would be no dividends until country recovers from coronavirus crisis
Boursa Kuwait
Kuwait exchange expects $2.8bn of inflows on MSCI upgrade
Mohammad Al-Osaimi said an IPO of the stock exchange could happen this year or the beginning of 2020, with two or three other IPOs expected in the next 12 months.
Central Bank of Kuwait
Kuwait revives debate of 5% expat tax on remittances
Kuwait’s Central Bank and Finance Ministry have opposed similar proposals in the past
Alghanim Trading
Gulf Bank shareholder aims to build $880m stake in lender
Alghanim Trading Co made arrangements with related parties to acquire a 9.2 percent stake off-market
Central Bank of Kuwait
Foreign investors can now own and trade shares in Kuwaiti banks
Kuwait’s Central Bank will need to give permission in cases in which ownership will exceed five percent of the bank’s capital
Central Bank of Bahrain
Gulf states raise interest rates following US Fed move
UAE, Saudi Arabia and Bahrain among GCC central banks to raise rates in line with US Federal Reserve
Central Bank of Kuwait
Kuwait central bank looks to regulate e-payments
New e-payment instructions are part of plans to propel the local banking sector
Central Bank of Kuwait
Kuwait’s current account surplus reaches highest level in 3 years
The country’s trade surplus has risen to $11.2 billion