In March 2014 Kuwait’s central bank announced that foreign banks would be allowed to operate more than one branch at a time in the country. Moreover, over the past few years the Central Bank of Kuwait (CBK) has worked to encourage banks to boost credit issuance to both individuals and businesses. These changes have been lauded as a means of...
After more than half a decade of heavy provisioning and regulatory reforms, Kuwait’s banking sector is now in the early stages of resurgence in credit issuance and various other activities. The industry’s overall stability and performance has improved markedly since the 2007-08 global economic downturn, due in large part to a series of new...
On December 31, 2014 every citizen in Kuwait became a partial owner of the Kuwait Health Assurance Company (KHAC), a new private sector provider of medical insurance. Some 1.15m shares of the company – worth around KD230m ($792.4m) in total paid-up capital – were eventually distributed among nationals by the Kuwait Clearing Company, which...
In the past few years there has been a wave of increased interest in the Kuwait market, with existing investors seeking to restructure their business to establish more permanent ties to Kuwait and potential foreign investors vying for market entry. A variety of groundbreaking laws and reforms aimed at modernising the archaic legal system – including the Companies Law issued in...
ETIQUETTE: It is customary to exchange handshakes when introducing yourself; however, it is important to allow members of the opposite sex to extend their hand to initiate the handshake. It is also not uncommon to see men greet each other with kisses on both cheeks. The dress code during business...
HOLIDAY INN KUWAIT DOWNTOWN Dasman, Abdullah Al Ahmed Street T: +965 1 841 000 F: +965 2232 9000 holidayinn.kuwaitdt@ihg.com www.ihg.com Rooms: 169 rooms and suites. Business & Conference Facilities: Facilities include 3 ballrooms for meeting and banquet capacity up to 250 persons and 8 high-tech meeting rooms along with a 24-hour business...
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