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Kuwait banks donate £32m to combat coronavirus

March 9, 2020 at 1:02 am

People wear medical masks as a precaution against coronavirus, officially known as COVID-19, on 26 February 2020 in Kuwait city, Kuwait [Jaber Abdulkhaleg/Anadolu Agency]

The Central Bank of Kuwait announced on Sunday the allocation of a financial fund worth 10 million Kuwaiti dinars (more than $ 32 million) to support efforts to combat the newly emerged coronavirus.

The Kuwaiti Bank declared in a statement that Kuwait’s banks would finance this fund as their contribution to the country’s official efforts to combat the virus.

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It is decided that the Central Bank will manage this fund in agreement with the government, according to the Kuwaiti newspaper Al-Qabas.

Central Bank of Kuwait Governor Mohammad Y. Al-Hashel said that “this initiative comes in support of the banking sector’s carrying out its national duties, as this fund will be used to disburse the urgent necessary needs required by the various governmental measures in the face of the spread of the disease.”