#Kuwait lifts restrictions on foreign ownership of local lenders - The National

Kuwait lifts restrictions on foreign ownership of local lenders  - The National:

Kuwait will allow foreign investors to own and trade shares in the Arabian Gulf country's banks ahead of index-compiler MSCI's anticipated decision next year to upgrade Kuwait to emerging-market status.

The decree allows foreign investors to own up to five per cent of a Kuwaiti bank's capital directly or indirectly, state-owned Kuna news agency reported on Saturday citing the Ministry of Commerce and Industry. Any levels exceeding that limit will require the Central Bank of Kuwait's approval.

"The latest move comes in accordance with Decree 694/2018, which notes that the non-Kuwaiti investor shall be allowed to own and trade in Kuwaiti banks' shares," Kuna reported.