Kuwait Central Bank allows banks to distribute 2020 dividends
- Date: 25-Jan-2021
- Source: Zawya
- Sector:Financial Services
- Country:Kuwait
Kuwait Central Bank allows banks to distribute 2020 dividends
Kuwait Central Bank allows banks to distribute 2020 dividends Apex bank allows banks to distribute dividends based on strength and durability of the financial results of banks The Kuwait Central Bank towers over the traditional Dhow harbor in Kuwait City, Kuwait March 18, 2020.Kuwaiti banks will be allowed to distribute cash profits based on their 2020 financial results, the Central Bank of Kuwait said Saturday.Due to the strength and durability of the financial results of Kuwaiti banks and due to not using their provisions during 2020, they can distribute dividends, the bank said in a statement.In June 2020, the Kuwait Banking Association had said that there would be no distribution of dividends to shareholders for the year, to maintain liquidity amid the COVID-19 pandemic. The announcement had led the regulator, the Capital Markets Authority, to suspend trading on the exchange for the day.(Reporting by Brinda Darasha; editing by Seban Scaria)[email protected]: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here. © ZAWYA 2021 Zawya CoveragetechnologyEmirati firm Seed Group ties up