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Kuwaiti banks shrug off IMF warning

On its first trading day after Eid holidays, the KSE Market index surged 0.91% to reach 5,843.8 points. While the country's largest lender National Bank of Kuwait (NBK) ended flat, Al Ahli Bank of Kuwait and Islamic bank Kuwait Finance House have gained 4.76% and 1.13%, respectively. The National reports, the IMF has warned Kuwait that its banking system, although sound liquid, was the most vulnerable to money laundering and criminal offences within the GCC, albeit there was currently no evidence of significant of money laundering.