On 26 October the central bank said it was guaranteeing all deposits in Kuwaiti banks following the news that Gulf Bank had suffered losses from currency derivatives trades.
Although it has not said explicitly how much the losses will be, the bank has been keen to make clear that the losses are the responsibility of its clients, on behalf of whom the trades were made.
However, the losses lead to a funding shortfall that the central bank was called on to solve.
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