Kuwait City: Interest rates on deposits with some banks have recently increased to 4% as a minimum, a historical interest rate for funds that deposits have not reached since around 2008, when they were trading at a barrier even lower than the prescribed Zakat rate of 2.5 percent until the end of last year. The gradual transition of banks from low to high interest rates, compared to the rate circulating at the start of the year and over the previous 14 years, does not appear to be the end of the escalation of the money-attraction pricing fever, as deposit rates are expected to reach 5% and possibly more in the coming months, especially if lending interest exceeds 7%.
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