Kuwait moves to restrict lending
Kuwait: Thursday, March 13 - 2008 at 12:41
The Kuwaiti government is asking banks to lower the salary ceiling against which they lend to individuals to 30% from 50%, reported Reuters, citing a report in al-Watan newpaper. No other details were given. Kuwait is seeking to control inflation through tighter lending restrictions, given that it has been lowering interest rates in line with the US.
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Jeff Florian, Senior ReporterThursday, March 13 - 2008 at 12:41 UAE local time (GMT+4)
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