Financial Sector Assessment : Kuwait

A joint International Monetary Fund (IMF)-World Bank financial sector assessment team visited Kuwait in early September 2003, at the request of the government of Kuwait and the central bank. This financial sector assessment report is based on analyses undertaken during that mission. The principal objective of the mission was to assist the authorities in evaluating the strengths, vulnerabilities, and key development opportunities in the financial system. The team sought to identify the measures that should be taken, both to avoid potentially destabilizing conditions and thereby reduce financial sector vulnerabilities, and to improve the foundation for a sound, efficient and deep financial sector that would contribute to economic development, particularly of the non-oil segment of the Kuwaiti economy. The mission also provided an assessment of the observance of international standards and codes in financial regulation and supervision covering three international standards and codes: the base core principles for effective banking supervision; the objectives and principles of securities regulation; and the anti-money laundering and combating the financing of terrorism standards. These standards assessments underpin the analysis and recommendations of this report.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2004-06
Subjects:	ACCOUNTING, ACTIVE MARKET, ADVANCED ECONOMIES, ADVERSE EFFECTS, ASSET QUALITY, AUCTIONS, BAILOUTS, BALANCE SHEET, BANK CREDIT, BANK DEPOSITS, BANK LOAN, BANK MARKET, BANK SUPERVISORS, BANKING MARKET, BANKING REGULATION, BANKING SECTOR, BANKING SYSTEM, BANKRUPTCY, BANKRUPTCY LAW, BEARER FORM, BID, BONDS, BOOK-ENTRY, BORROWER, BROKERS, BUDGET SURPLUS, CAPITAL ADEQUACY, CAPITAL MARKET, CAPITAL MARKET ACTIVITIES, CAPITAL MARKETS, CAPITAL REQUIREMENTS, CDS, CENTRAL BANK, CHECKS, COLLATERAL, COMMERCIAL BANKS, COMMERCIAL CODE, COMMERCIAL CREDIT, CONSUMER LOANS, CONVENTIONAL INVESTMENT, CORE BUSINESS, CORPORATE BOND, CORPORATE BOND MARKET, CORPORATE BONDS, CORPORATE BORROWERS, CORPORATE GOVERNANCE, CREDIT INFORMATION, CREDIT INFORMATION SYSTEMS, CREDIT LINES, CREDIT PERFORMANCE, CREDIT RISK, CREDIT RISKS, CREDITORS, CURRENCY, CURRENT ACCOUNT BALANCES, DATED SECURITIES, DEBIT CARDS, DEBT INSTRUMENTS, DEFAULTS, DEPOSIT, DEPOSIT INSURANCE, DEPOSITORS, DEPOSITS, DOMESTIC ECONOMY, ECONOMIC DEVELOPMENT, ELECTRONIC TRANSACTIONS, EMERGING MARKETS, EQUIPMENT, EQUITIES, EQUITY MARKETS, EQUITY PRICES, EXIT MECHANISM, EXPOSURE, EXPOSURES, FINANCIAL COMPANIES, FINANCIAL CRISIS, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENTS, FINANCIAL MARKET, FINANCIAL MARKET DEVELOPMENT, FINANCIAL MARKETS, FINANCIAL PERFORMANCE, FINANCIAL RISKS, FINANCIAL SECTOR, FINANCIAL SERVICES, FINANCIAL SYSTEM, FINANCIAL SYSTEM STABILITY, FORECLOSURE, FORECLOSURE PROCESS, FOREIGN ASSETS, FOREIGN BANK, FOREIGN BANKS, FOREIGN CURRENCY, FOREIGN EXCHANGE, FOREIGN EXCHANGE RISK, FOREIGN INVESTMENT, FOREIGN MARKETS, FOREIGN NATIONAL, FOREIGN NATIONALS, FUND MANAGEMENT, GOVERNMENT ASSETS, GOVERNMENT BOND, GOVERNMENT BOND MARKET, GOVERNMENT DEBT, GOVERNMENT SECURITIES, GOVERNMENT SECURITIES MARKET, HOUSING FINANCE, IMPLICIT GUARANTEE, INCOME, INFLATION, INFORMATION SHARING, INFRASTRUCTURE PROJECTS, INSIDER DEALING, INSIDER TRADING, INSURANCE, INSURANCE COMPANIES, INSURANCE MARKET, INSURANCE PENETRATION, INSURERS, INTEREST RATE, INTEREST RATE CAPS, INTEREST RATES, INTERNAL CONTROL, INTERNATIONAL COOPERATION, INTERNATIONAL STANDARDS, INVESTMENT FUNDS, INVESTMENT OPPORTUNITIES, ISLAMIC BANKS, ISLAMIC INVESTMENT, ISSUANCE, JUDICIAL SYSTEM, JURISDICTION, LEGAL FRAMEWORK, LEGAL SYSTEM, LENDER, LENDER OF LAST RESORT, LENDERS, LIBERALIZATION, LIENS, LIFE INSURANCE, LIFE INSURANCE PRODUCTS, LIQUIDITY, LIQUIDITY POSITION, LIQUIDITY RATIO, LIQUIDITY RISKS, LOCAL BANKS, LONG-TERM RESOURCES, MARKET DEVELOPMENT, MARKET DISCIPLINE, MARKET ENTRY, MARKET FOR TREASURY SECURITIES, MARKET INTERMEDIARIES, MARKET MECHANISM, MARKET RISK, MARKET-MAKERS, MATURITIES, MATURITY SPECTRUM, MATURITY STRUCTURE, MINIMUM CAPITAL REQUIREMENT, MONETARY POLICY, MONEY LAUNDERING, MORAL HAZARD, MORTGAGE, MORTGAGE BONDS, MORTGAGE FINANCE, MORTGAGE LOANS, MORTGAGE MARKET, MORTGAGE-BACKED SECURITIES, MORTGAGES, OIL PRICES, OPEN MARKET, OPERATIONAL RISKS, PAYMENT OF DEBTS, PAYMENTS SYSTEM, PENSION, PENSIONS, PORTFOLIOS, PREMIUM REVENUE, PRIVATE SECTOR BANKS, PRUDENTIAL REGULATIONS, PUBLIC DEBT, PUBLIC OFFERING, REAL ESTATE, REGULATOR, REGULATORS, REGULATORY AGENCY, REGULATORY ENVIRONMENT, REGULATORY FRAMEWORK, REINSURANCE, REPAYMENT, REPOS, RESERVE, RESERVE REQUIREMENTS, RESERVES, RESIDENTIAL MORTGAGE, RETIREMENT AGE, RISK MANAGEMENT, RISK PROFILES, SECURITIES, SECURITIES MARKET, SECURITIES MARKETS, SECURITIES REGULATION, SETTLEMENT, SETTLEMENT PROCEDURES, SETTLEMENT SYSTEMS, SHAREHOLDERS, SHORT MATURITY, SMALL BUSINESS, STOCK EXCHANGE, STOCK EXCHANGES, STOCK MARKET, STOCK MARKET CAPITALIZATION, STOCK MARKETS, STOCKS, SUPERVISORY AGENCY, SYSTEMIC RISK, TAX, TELECOMMUNICATIONS, TERRORISM, TRADES, TRADING, TRADING ACTIVITIES, TRADING SYSTEM, TRANSPARENCY, TREASURY, TREASURY BILLS, TURNOVER, TURNOVER RATIOS, UNDERWRITERS,
Online Access:	http://documents.worldbank.org/curated/en/2004/06/17893062/kuwait-financial-sector-assessment https://hdl.handle.net/10986/15943
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