close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

The government to the rescue

The government to the rescue

The Kuwaiti Cabinet approved a rescue package in ‘principle’. The Kuwait Times reveals the package and how it may affect the nation’s ailing economy

0

February 3, 2009 12:16 by



The Cabinet yesterday approved in principle a rescue package of the national economy and asked an economic task force to prepare the final form of the package for approval by the Cabinet. The package is aimed at stabilizing the economy and saving it from the fallout of the global financial crisis. It calls for providing urgent aid to troubled investment companies that are unable to repay their debts.

The plan was presented by governor of the Central Bank of Kuwait, Sheikh Salem Abdulaziz Al-Sabah,  who heads a task force set up to deal with the impact of the global financial crisis on the state. “The Cabinet asked the task force to study comments and amendments made (by ministers) to the draft legislation and submit it to the Cabinet in its final form for approval and referral to parliament,” an official statement said.

According to reports, the package calls for using KD4 billion (AED49.6 billion) in public funds to rescue troubled firms and shore up the domestic economy. The scheme also envisages the state purchasing toxic assets to shore up the banking sector. The National Assembly is due to debate the plan on February 10 after its economic and financial affairs committee has reviewed the package.

A number of MPs are opposed to the plan and especially the use of public funds to bail out mismanaged companies, and want that the companies’ officials to be held accountable before aid is made available to them. They also want the government to purchase billions of dinars in debts owed by citizens to local banks and investment firms.



Pages: 1 2

0

Tags: , , , ,

Leave a Comment