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Kuwait central bank ready to provide cash to banks over coronavirus outbreak

Saturday, March 14, 2020

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by Ottawa Citizen

DUBAI — Kuwait’s central bank said on Thursday it was ready to support its financial sector over the coronavirus outbreak, including by providing cash to commercial banks.

Other measures included suspending fees on point of sales devices and ATM withdrawals, increasing the limit for contactless payments to 25 dinars ($81.44) from 10 and providing “financial and moral compensation” to banking sector employees during a public holiday, which was declared until March 26.

All commercial passenger flights have been halted in the country and people are banned from going to restaurant and cafes. ($1 = 0.3070 Kuwaiti dinars) (Reporting by Ahmed Hagagy and Yousef Saba; Editing by Jon Boyle)

*Original article from Ottawa Citizen: https://ottawacitizen.com/pmn/business-pmn/kuwait-central-bank-ready-to-provide-cash-to-banks-over-coronavirus-outbreak/wcm/1cdc0df8-2748-4b46-8ea2-94f293119c9b

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