EXCHANGE COMPANIES PROFITS TO INCREASE BY 5% IN KUWAIT IN 2021

  • 02/12/2021

Kuwait City: The profits of exchange companies will increase by at least five per cent this year, said Abdullah al-Mulla, chairman of the Kuwait Federation of Exchange Companies. He added that the economic situation was better compared to the same period last year. With the opening of the airport last September, the workers were able to return to Kuwait.


In addition, the ease of entry procedures into the country was clearly reflected in the growth of exchange companies. This is an area that has been badly affected by the covid crisis. Many companies had to close down. In addition, the Central Bank of Kuwait announced that it would revoke the licenses of three exchange companies. 
Al-Mulla said the companies had been shut down due to the central bank's inability to comply with strict regulations, especially financial regulation, money laundering law and compliance control.

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