Central Bank of Kuwait - Annual Report 2005-2006

According to the Central Bank of Kuwait's Annual Report 2005-2006, the CBK continued its efforts aimed at boosting competition among the banking and financial system units during the fiscal year, by allowing foreign banks to open branches in the State of Kuwait.

"Whereby three branches of foreign and GCC banks were entered in CBK's register of commercial banks, namely the branch of the HSBC Bank in August 2005, the branch of the Abu Dhabi National Bank in November 2005, and the branch of the

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