Kuwait: Central Bank Request Information on Exposure to Credit Suisse
Alrai, 16 March 2023: According to sources, the Central Bank of Kuwait has requested local banks to disclose information on their exposure to Credit Suisse Bank due to the intense pressure it is facing.
The bank’s shares have dropped by 31 per cent in value in the Zurich Exchange, and its bonds have reached levels indicating financial hardship.
Kuwaiti banks are reported to have an exposure of around 1.88 million dinars to the collapsing American banks Silicon Valley, Signature Bank, and Silver Gate.
Despite this, the Central Bank’s Governor has stated the Kuwaiti banking system’s financial situation is stable and robust.
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