CBK board given power to implement laws

The recently implemented Islamic Banks Law will give power to the central bank of Kuwait's Board of Directors to implement necessary laws and regulations with the aim of providing an atmosphere of healthy competition in the field of Islamic banking.

Source: Arab Times

Central Bank of Kuwait (CBK) Governor Sheikh Salem Abdulaziz Al-Sabah Saturday said the Islamic Banks Law is not a signal to establish an unlimited number of banks, stressing that the number of licenses issued will be based on the