Reforms helped oil states weather shock – Kuwaiti governor
Governor says banks may not have fared so well without regulatory reforms
The Central Bank of Kuwait governor, Mohammad al-Hashel, today (December 13) stressed the importance of Basel III for oil-exporting states.
The Kuwaiti governor said banks in the Middle East and north Africa had generally maintained high capital ratios even before the 2008 crisis, but the regulations brought important refinements.
“Banks in these economies have weathered the oil rout quite well,” he told a meeting of supervisors in Abu Dhabi. “This would not have been possible without
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