The Central Bank of Kuwait has issued instructions to local banks to implement a new mechanism in pricing deposits in dinars, especially those whose maturity date is approaching, as well as those whose deadlines are nearing the end and work is underway to renew them.
Informed sources told a local Arabic daily the Central Bank obligated the banks to disclose and advise clients, especially with regard to applying the interest rate on clients’ deposits in dinar, indicating that advice in this regard should enable the client to be fully aware of the bank’s measures taken in this regard.
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