The Kuwaiti government, pushing ahead with long-promised reforms, agreed in principle on Monday to end the domestic monopoly of air services and also approved a crucial draft law to open the country to foreign banks, reported the Gulf Daily News.
The cabinet said after its weekly meeting in a statement that it had approved a draft law to amend a 1961 law governing banking operations.
The draft law still required approval by the country’s elected parliament, said the paper.
The cabinet said the changes were in line with the era of liberalizing financial services and Kuwait’s commitments to the World Trade Organization accord on services, said the paper – Albawaba.com
