Cbk Says There Is No Fear For The Dinar

Central Bank of Kuwait Governor Mohammed Al-Hashil said on Sunday that the average capital adequacy ratios in Kuwaiti banks exceed 18 percent and that there is “no fear” for the Kuwaiti dinar.

In an interview with Al Arabiya TV, the governor said that banks can continue to disburse distributions of 2019 despite the crisis the country is experiencing due to measures to tackle the Corona epidemic.

Al-Hashel announced Thursday that it had issued instructions that include reducing the regulatory requirements for banks in light of the Corona virus crisis, including the reduction of capital adequacy requirements and liquidity standards.

Al-Hashel said on Sunday that the situation is subject to close monitoring by the Central Bank of Kuwait on a daily basis, and it is possible to intervene when necessary.

He pointed out that it is too early to ask Kuwaiti banks not to pay dividends this year, and that no such decision is needed yet.

Prepared by Ahmed Hajjaji for the Arab Bulletin – Edited by Ahmed Elhamy.

 

SOURCE : SAUDI24NEWS