Kuwait Capital market regulator introduces streamlined bank procedures

Kuwait’s Capital Market Authority (CMA) has implemented new measures to improve the ease of banking transactions, including amendments to existential rules in a bid to placate foreign investors. The measures aim to simplify procedures dealing with single and joint bank accounts for foreign investors, the capital market regulator said in a statement on Saturday.

The changes come after close consultations with Kuwait Stock Exchange and Kuwait Clearing Company, added the statement, all of which adhere to international business guidelines Joint bank account operations usually involve more than one investor, while a single account allow a client to trade on multiple segments of the financial market using an individual account.