Kuwait’s Central Bank has announced a financial support package as the country continues to tackle the Coronavirus outbreak. The Bank has reduced liquidity and capital adequacy requirements for banks and cut risk weighting for SMEs. The capital adequacy requirements have been cut by 2.5% and the risk weighting for SMEs cut from 75 to 25%. In addition, the maximum lending limit has been decreased from 100 to 90% and the maximum financing for residential real estate developments to the value of the property or the cost of development. Banks have already been urged to ease the loan repayment demands on companies for three months. Full story
