By Alex Warren
Three foreign banks now have a concrete presence in Kuwait – BNP Paribas, which in late 2004 was the first to be granted a licence by the central bank; HSBC Middle East, which in October 2005 was the first to begin operations; and National Bank of Abu Dhabi, which registered late last year.
Citigroup will shortly join them after announcing in April that it had also been awarded a licence and would launch corporate and investment banking services from this month.
“It’s still early days to judge how the...
