Kuwaiti central bank orders local national quota for bank managers
Central bank says 70% of management of local banks must be Kuwaitis by 2023
The Central Bank of Kuwait announced on April 14 that it would require financial institutions to ensure that 70% of their middle and upper management are Kuwaitis. Banks will have until the end of 2023 to comply with the new regulation.
The CBK will require regulated institutions to submit plans regarding how they will achieve the new quota requirement. Like other Persian Gulf states, Kuwait has long relied on expatriate labour. More than two-thirds of the emirate’s population comprised non
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