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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Kuwait says it has too many Islamic banks

Posted on 22 September 2010

From Maktoob.com: Kuwait’s central bank governor said the Gulf Arab state is saturated with Islamic banks. Sheikh Salem Abdul-Aziz al-Sabah told Arabic language daily al-Seyassah that there were five Kuwaiti Islamic lenders registered with the central bank and five conventional banks.
Saudi Arabia’s Al-Rajhi Bank, one of the biggest Islamic lenders in the Gulf, also operates in Kuwait. “I believe that with this the Kuwaiti market has reached saturation point for Islamic banks at this stage,” the governor said……………………………………….Full Article: Source

 
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