Foreign banks are regaining lost ground in the Gulf's financial sector, stealing a march on local lenders as they grapple with job cuts and a liquidity squeeze caused by the plunging oil price.
Japanese, French and US banks ar
Kuwait's dinar rose sharply against the US dollar in the forwards market on Monday in response to news that the Kuwaiti central bank would allow local banks to deal in derivatives with foreign banks.
Al Rai newspaper in Kuwait
Foreign banks are hunting for stakes in private Iraqi banks as the sector appears ripe for investment and consolidation but local banks are reluctant to take partners, fearing a loss of control, banking officials say.
Iraq's financial sec
Libya has set regulations for its commercial banks to seek "strategic partnerships" with foreign banks, capping at 49 per cent the stakes foreign investors can own.
The measures are part of the Libyan central bank's strategy of reforming t