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Kuwait allows limitless foreign trade, ownership in bank shares

December 17, 2018 at 10:16 am

Kuwaiti money, 21 December 2017 [Sathishkumar Neyveli Sandiyar/Facebook]

The Kuwaiti Ministry of Commerce and Industry announced that foreign investors will be allowed to own and trade in bank shares without caps.

According to the decision, foreign ownership shall not exceed five per cent either directly or indirectly in any Kuwaiti bank.

However, if ownership exceeded the five per cent of the bank’s capital, investors are required to obtain the Central Bank’s approval.

According to the ministry statement, the Capital Markets Authority has received many inquiries during its promotional tours from international investors regarding the ease of foreign investment in the Kuwaiti market.

The ministry said the decision aims to attract and facilitate foreign investment in Kuwait especially in the banking sector.

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