Kuwait: Financial System Stability Assessment: Update

International Monetary Fund

No 2010/239, IMF Staff Country Reports from International Monetary Fund

Abstract: The study shows that the global financial crisis has adversely affected Kuwait’s financial system, especially in the Investment Company (IC) sector. Stress tests indicate that, in contrast to the ICs, the banking system could broadly withstand significant shocks. The Central Bank of Kuwait's (CBK) well-designed framework for banks has proven effective in shielding the banking sector from the crisis. It shows that the enactment of the capital market law is an important step toward the creation of Certified Management Accountant (CMA). The study shows that a powerful regulatory regime is needed for the insurance sector.

Keywords: ISCR; CR; balance sheet composition; risk profile; banking system; return on assets; financial crisis; interest rate; due diligence; asset quality; price discovery; CBK law; market risk stress tests; one-way market; financial support; asset-liability structure; risk stress tests; ICs asset; Commercial banks; Loans; Nonperforming loans; Global (search for similar items in EconPapers)
Pages: 43
Date: 2010-07-30
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