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Tuesday, 24 November 2009 17:23 UAE time

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Mashreq makes move into Kuwaiti banking sector

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 16 September 2009
KUWAIT MOVE: The UAE's Mashreq has been registered with the Central Bank of Kuwait. (ITP Images)
KUWAIT MOVE: The UAE's Mashreq has been registered with the Central Bank of Kuwait. (ITP Images)

The UAE's Mashreq Bank is set to start operations in Kuwait and it was confirmed it had been registered with the Central Bank of Kuwait (CBK).

Sheikh Salem Abdulaziz Al-Sabah, governor of the CBK, said the branch would "execute traditional banking operations".

Mashreq Bank is the fourth bank operating in the Gulf Cooperation Council to be registered with the CBK, he said, adding that it followed registrations for the National Bank of Abu Dhabi, Qatar National Bank, and Doha Bank, KUNA News Agency reported.


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Mashreq is the seventh non-national bank branch to be registered with the CBK since legislation was introduced which allowed for presence of foreign banks in the Kuwaiti banking sector.

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