New rules for investment companies: Kuwait’s CB

31 May 2011

(MENAFN) The Kuwaiti Central Bank Governor said that under the new regulations set by the Capital Markets Authority (CMA), investment firms in the country cannot use a single license for their lending and investment businesses, reported Reuters.

The central bank distributed a circular to all investment firms explaining the new rules, in which the central bank instructed firms to look into the possibility of fixing their positions, so that it is supervised by only one of the two parties.

Firms that choose to operate in financing will be regulated by the central bank, while those in investments and asset management will be regulated by the CMA.

It is worth noting that firms were given a one month notice in order to make a decision whether they want to pursue another license either for a lending or an investment business.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more