The Gulf bank of Kuwait crisis appeared today when Kuwait Stock Exchange halted the banks shares, The central bank order said trading in Gulf Bank shares would be suspended pending an investigation into the derivatives deals that caused the losses, this action spread panic in the bank today and the account holders started to withdraw there money from the bank.
One banking official with access to the information estimated the bank’s losses at up to $749 million, and one of the Gulf’s bank officials informed the news agencies that the bank will cover these losses and there is no need to worry about any cash flow or any account holder assets.
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