Kuwaiti Banks Told to Limit Insurance Services, Al-Rai Says

Kuwait’s central bank instructed lenders to stop promoting insurance services other than those directly tied to banking facilities for clients, Al-Rai reported, citing unidentified people familiar with the matter.

Lenders are not to renew contracts with insurance companies to promote their services and must refrain from signing such agreements, the newspaper said, citing a circular distributed to banks.

To contact the reporter on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net.

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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