By NNN-KUNA,
Kuwait : Kuwait’s Central Bank Governor Sheikh Salem Abdul-aziz Al-Sabah has said that it initially agreed to grant a licence to Oman’s Bank of Muscat to open a branch in Kuwait.
Sheikh Salem said in a press release Sunday the approval is the fifth by the Central Bank within cooperation with central banks in the Gulf Cooperation Council (GCC) states.
The Governor also noted that there are already two branches of UAE and Qatar banks active in the country and listed in the Central Bank’s record.
A proposal will be presented to the Central Bank board of directors to issue a formal approval for the Omani bank, Sheikh Salem added.
Previously, the Central Bank has approved branches of three global banks like the HSBC and Citibank which have been active since 2005.