Kuwait enhances operations to restore liquidity

The Central Bank of Kuwait on Wednesday has launched new open-market operations in a fresh bid to shore up liquidity.

The central bank said it would allow local banks to access loans with overnight and month-long maturities through its repo facility. The central bank had only a one-week repo facility prior to the announcement.

The central bank will charge 1% for overnight loans, 2% for week-long loans and 3% for month-long loans.

The step is the latest to combat a lack of liquidity in the Gul