Kuwait’s banks able to withstand EU’s debt crisis’ impact

26 Oct 2011

(MENAFN) Kuwait’s central bank’s governor, Sheikh Salem Abdul-Aziz Al-Sabah, said that banks in the country were able to endure Europe’s debt crisis and unexpected global shocks, reported Arab News.

Al-Sabah added that Kuwaiti banks had sufficient liquidity and were well capitalized, with conservative leveraging ratios.

He also said that last month, private sector deposits in the country’s banks increased to USD96.2 billion, on the other hand, the central bank introduced a number of measures to monitor local banks in a better way.

It is worth noting that in August, the Kuwaiti central bank launched a new Financial Stability Office.

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