KUWAIT CITY, Sept 17, (KUNA): The National Bank of Kuwait on Saturday dismissed media reports about the bank’s purported dealing in financial derivatives as “contrary to reality and totally groundless.”
“These are mere rumors that are meant to tarnish the bank’s good reputation, “ the NBK said in a press statement.
The bank stressed that it is fully committed to the banking system laws and regulatory authorities’ instructions.
“The NBK is doing nothing that jeopardizes the Central Bank of Kuwait’s monitoring role,” it concluded.
The Kuwait Finance House (KFH) meanwhile, categorically denied reports about the bank’s alleged dealing in financial derivatives.
“KFH is committed to Kuwait banking laws and the rules set by supervisory authorities and the Central Bank of Kuwait,” the bank said in a press statement.
The bank considers the media reports about this accusation as slander.
“These are irresponsible rumors aiming at destroying the KFH’s reputation and negatively impacting the Kuwaiti banking sector and the national economy,” it added.
The KFH asserted that it has no dealings that violate or circumvent the Central Bank of Kuwait’s rules. It also urged media outlets to be accurate and not to publish rumors in this critical time.
“Media should deal with the banking sector with the importance it deserves and the supreme national interest should be above all considerations,” the statement concluded.