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| 13 November, 2017

Kuwaiti banks examine Saudi accounts

Kuwaiti dinar banknote in hand. Kuwaiti dinar is the national currency of Kuwait.

Kuwaiti dinar banknote in hand. Kuwaiti dinar is the national currency of Kuwait.

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Some Kuwaiti banks had been asked by the regulator to provide details on their total exposure to Saudi Arabia

KUWAIT/DUBAI - Kuwaiti banks have been told by the Central Bank to provide account details relating to some Saudi Arabian nationals, sources said yesterday.

The move follows the freezing of more than 2,000 domestic bank accounts in Saudi Arabia after the detention of senior business figures and officials in a campaign against alleged graft.

Kuwait’s Central Bank had asked banks if they had exposure to any of the Saudi citizens who were arrested, one of the sources said. Banks had also been asked to provide information about the companies linked to the individuals.

A second Kuwaiti banking source said some Kuwaiti banks had been asked by the regulator to provide details on their total exposure to Saudi Arabia.

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