Regulatory Alerts2024-03-18
Rules and Procedures for Opening Banks' Branches
The Central Bank of Kuwait mandates comprehensive rules and procedures for local and foreign banks seeking to establish branches and representative offices domestically and abroad. Applicants must submit written requests accompanied by detailed economic feasibility studies, demonstrate sufficient capital and robust internal controls, and obtain preliminary approval valid for one year prior to commencing operations. The framework additionally permits licensed foreign banks to open multiple branches by submitting a structured expansion plan, provided they satisfy minimum equity thresholds and secure necessary supervisory clearances.
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