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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Kuwait backs deposits; Gulf cbankers optimistic

Posted on 30 October 2008

From Guardian: Kuwait passed a law to guarantee bank deposits on Wednesday even as Gulf central banks offered reassurances about the health of their banking systems, saying there was no need to provide more assistance to lenders.

The government-sponsored bill came after the central bank stepped in to save the country’s fifth-biggest lender, Gulf Bank , this week following steep derivatives losses.
The news sent shockwaves through Gulf bourses, sending stocks into a tailspin and investor confidence to new lows…… Full Article: Source


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