DUBAI - Kuwait's ministry of commerce and industry will allow foreign ownership and trading in shares of Kuwaiti banks without caps, state news agency KUNA said on Saturday.

Investors would need approval from the central bank of Kuwait if ownership exceeded five percent of the bank's capital, it said.

(Reporting by Asma Alsharif, Editing by William Maclean) ((mailto:asma.alsharif@thomsonreuters.com; +20225783290; Reuters Messaging: rm://asma.alsharif.reuters.com@reuters.net))