Regulatory Alerts2004-10-19
Instructions to Banks on Notifying the Central Bank of Kuwait Before Communicating with Foreign Regulatory Authorities
The Central Bank of Kuwait requires all local banks to notify the regulator in advance before communicating with foreign financial or banking authorities for approvals. This obligation covers cross-border initiatives such as establishing subsidiaries, acquiring shares, opening branches, or expanding operations. Banks must also report any transactions violating hosting country regulations to maintain compliance with international supervisory standards and prevent adverse regulatory consequences.
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