Kuwait Banks Disclose Exposure to Dubai

This won't be a big surprise to anyone out there familiar with GCC banking, but the Kuwaiti banking sector has little to no exposure to Dubai.

Let's run down the statements to date:

1. National Bank of Kuwait- No exposure to any company owned by Dubai Government.  NBK also pretty much avoided the Suq Al Manakh.  Abu Shukry was at the helm there then.
   
2. Boubyan Bank - No exposure to Dubai World or Nakheel.  
3. Kuwait Finance House KFH - No exposure to Dubai World or Nakheel. 
4. Ahli Bank of Kuwait - US$20 million in bonds.  No loans.
5. Kuwait International Bank - No exposure to any Dubai company which has announced a standstill.  This is the "old" Kuwait Real Estate Bank. 
6. Bank of Kuwait and the Middle East -  No exposure to Dubai World or Nakheel.
7. Burgan Bank - No exposure to Dubai World or Nakheel.

Not yet reporting Gulf Bank and Commercial Bank of Kuwait.

Also Arab African International Bank Egypt  - in which the Kuwait Investment Authority ("KIA") holds 49.4% or so - disclosed it had US$700 million in loans to companies in the UAE.

As a final word:  This doesn't mean that Kuwaiti banks don't have exposure to other entities or companies in the UAE including Kuwaiti companies and/or individual investors.