Monday, June 14, 2010

New Central Bank of Kuwait Regulations on Investment Companies - Practical Difficulties

Muhammad Shabaan at AlQabas has an article that several investment companies have held urgent meetings with the CBK or are trying to arrange meetings to discuss the new regulations on investment companies which pose difficulties for them - particularly those in distress.

In particular one firm with a three year rescheduling recently agreed (clearly Global though its name is not mentioned) pointed out that it cannot comply with the regulations and the terms of its rescheduling.

What's likely to happen is that the CBK will have to give some firms a "pass" on the implementation dates under the argument that they are taking significant steps to improve their financial positions in the spirit (but not the letter) of the regulations.

1 comment:

Abu 'Arqala said...

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