Kuwaiti governor argues for credit ratings regulator

The Central Bank of Kuwait

Mohammed Al-Hashel, the governor of the Central Bank of Kuwait, has recommended the establishment of an independent regulator for credit rating agencies.

Speaking at the Financial Stability Board's regional meeting for the Middle East and North Africa, Al-Hashel underlined the flaws in credit rating agencies' (CRAs) methodologies that contributed to the global financial crisis. However, he argued that rather than reducing "the need and the scope" for CRAs, it would be better to establish a

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