Kuwait's central bank said on Sunday there would be very little impact on local lenders from the collapse on Friday of Silicon Valley Bank (SVB).
The Kuwaiti central bank governor said that the exposure of the local banks to SVB was very limited and that the banks assured him that their business would be barely affected, Kuwait's state news agency reported.
The governor, Basel Al Haroun also stressed the "stability and strength of the Kuwaiti financial system" thanks to the country's financial strength.
SVB Financial Group (SIVB.O), which operated as Silicon Valley Bank, became the largest bank to fail since the 2008 financial crisis on Friday, roiling markets and leaving billions of dollars belonging to companies and investors stranded.
