Central Bank of Kuwait has not issued any guarantee to any bank on govt’s behalf – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
- Date: 29-Jan-2023
- Source: Arab Times Kuwait
- Sector:Financial Services
- Country:Kuwait
Central Bank of Kuwait has not issued any guarantee to any bank on govt’s behalf – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News
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KUWAIT CITY, Jan 28: The Central Bank of Kuwait affirmed that it did not issue any guarantee on behalf of the government to any of the banks, in accordance with the provisions of articles 2 and 3 of decree-law No. 2/2009 regarding the promotion of financial stability, reports Al-Rai daily.
In its annual report on the value of bonds, sukuk and government support, in implementation of the provisions of the “Financial Stability” law, which it submitted to both the National Assembly and the State Audit Bureau, the Central Bank of Kuwait explained that the grace period for state guarantee is in accordance with the provisions of the two articles that authorize state guarantee and for a period not exceeding 15 years from the date of issuance.
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