CBK INSTRUCTS BANKS ON NEW MECHANISM FOR PRICING DINAR DEPOSITS

  • 03/07/2022

Kuwait City: The Central Bank of Kuwait has urged banks to establish a new mechanism for pricing deposits in dinars, particularly those whose maturity date is near or whose deadlines are approaching and the process of renewing them is underway.


According to reliable sources, the Central Bank of Kuwait has required banks to disclose and advise clients, particularly when it comes to putting interest rates on clients' dinar deposits. The guidance in this respect should make clients fully aware of the bank's actions in this regard. 

"This technique allows the consumer to acquire the maximum potential pricing for his deposits, compared to the highest levels transacted in the market," according to the sources.

They explained that the Central Bank of Kuwait's move in this respect is part of the Central Bank of Kuwait's commitment to playing a supervisory role in the field of protecting customers' rights, particularly when it comes to applying deposit rates to customers in dinars.

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