Wednesday 13, June 2018 by Kudakwashe

CBK directs banks to provide investment data on quarterly basis

Central Bank of Kuwait (CBK) has requested banks operating in accordance with Islamic Shari'ah to provide direct investment data on a quarterly basis

  

Banks operating in accordance with Islamic law will provide the Central Bank with a detailed statement of the assets of the direct investment property periodically, as well as a detailed statement of the assets of the direct commercial investments and the bank’s investments in the capital of the subsidiaries and associates that carry out the activity, reported Arab Times.

The Central Bank provided the banks with forms designed for this purpose.

The data required from Islamic banks also include the percentage of total commercial investment activities, capital in its comprehensive sense, and the proportion of total other activities of direct investment and capital in its comprehensive sense, as well as the proportion of the group of direct investment activities and capital in its comprehensive sense.

 

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