BANKING

March 10, 2020

KUWAIT: Within its constant attention and appreciation of the role women play in various societies and in collaboration with Lush Kuwait General Trading Company, the Commercial Bank of Kuwait (CBK) recently celebrated the International Women’s Day by distributing special gifts to its female employees at its headquarters and various branches around Kuwait. In this regard, CBK’s corporal communication"... Continue Reading

March 10, 2020

KUWAIT: Burgan Bank announced its contribution to the campaign to combat the emerging coronavirus under the guidance and initiative of the Central Bank of Kuwait. Kuwaiti banks will contribute to a KD 10 million fund established to support the government efforts in fighting the novel corona virus and prevention of widespread transmission.

Majed"... Continue Reading

March 9, 2020

Dr. Al-Hashel said in a statement that establishing the special US$33 million fund to handle the coronavirus threat comes in line with social and national responsibilities to cope with the emergency health situation. He added that it was also a back-up to the government departments that have been handling the novel coronavirus (COVID19).

It"... Continue Reading

March 5, 2020

DUBAI, March 4 (Reuters) - Kuwait’s central bank lowered its discount rate to 2.5% from 2.75%, it said in a tweet on Wednesday, a day after the U.S. Federal Reserve’s emergency rate cut.

Saudi Arabia, the United Arab Emirates and other Gulf"... Continue Reading

March 3, 2020

i2c Inc., a leading provider of payment and open banking technology, today announced it is expanding its presence in the Middle East and Africa (MEA) due to high demand in the region for its solutions. i2c partners with financial institutions, fintechs and governments using its unique i2c agile processing technology and APIs to bring innovative credit, debit, prepaid, and multi-currency solutions to market quickly. To support the growth in MEA, i2c added a General Manager position to its team and is announcing today the appointment of payments industry veteran Aurangzaib Khan to the position. Khan is based in Dubai. Prior to joining i2c, Khan was VP, Government Business Development for Mastercard in the UAE and...... Continue Reading

March 2, 2020

i2c Inc., a leading provider of payment and open banking technology, today announced the appointment of Jim McCarthy as President of the company. Reporting to i2c CEO and founder Amir Wain, McCarthy is responsible for i2c teams working with clients, partners and prospects. He is based at i2c headquarters in Silicon Valley. McCarthy is an industry veteran with over 20 years of experience in financial services across all stakeholders in the payments and open banking industries. Most recently, he has served as a strategic consultant and advisor to many Silicon Valley fintech startups. At Visa, where McCarthy worked for eighteen years, he held senior positions in sales, risk and authentication, consumer credit, digital...... Continue Reading

February 27, 2020

KUWAIT CITY, Feb 26 : The Federation of Kuwaiti Banks announced that banks are working to sterilize all ATMs at branches and machines spread throughout Kuwait.

The union attributed this as urgent measures taken by banks to combat the Corona virus.

... Continue Reading

February 24, 2020

A Kuwaiti man has complained to police in Riqqa that he had been defrauded of KD1,800 by a person impersonating a bank official. In his report to the police, the Kuwaiti said the fraudster had claimed that unless the victim’s account was updated in 60 seconds, he would lose access to his ATM card and the bank would freeze his account.

Police"... Continue Reading

February 23, 2020

DUBAI, Feb 22: The overall credit profiles of rated banks in Kuwait should remain stable in 2020, barring any unexpected increase in geopolitical risk or a major fall in oil prices, S&P Global Ratings said Thursday in the “Kuwait Banking Sector 2020 Outlook: Resilience Despite Subdued Growth and Real Estate Concentrations” report published on RatingsDirect.

“Cost"... Continue Reading

February 20, 2020

Kuwait’s parliament, in the first and second deliberations, has given its support to a proposal for a law aiming to regulate the country’s banking sector, through which an inspection body would be formed. Amid the voting process in a parliament session on Wednesday, all 36 MPs present unanimously voted in favor of the law, which calls for the formation of a “higher and independent inspection"... Continue Reading