Kuwaiti central bank injects liquidity.
Global Banking News - 30 September 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Kuwait has injected cash into the financial system, a move aimed at enhancing confidence in its banks as the global financial crisis caused liquidity to tighten in Gulf States, The Financial Times has reported.
Citing bankers, the report said that Central Bank of Kuwait offered one-week and one-month funds to signal to markets that it would ensure there was sufficient liquidity after a recent slide in stocks on the Arab world's second-largest bourse.
'Volumes are relatively small but it is good news because they are signalling to the market that they are there and ready to pump liquidity if necessary,' a banker at a local lender reportedly told Reuters. The exact volume of funds has not been disclosed.
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|Publication:||Global Banking News (GBN)|
|Date:||Sep 30, 2008|
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