KUWAIT: The Central Bank of Kuwait announced on Thursday the stability of the money supply in its broad concept at KD 1.40 billion (last May) on a monthly basis. The bank’s Economic Research Department reported to the Kuwait News Agency (KUNA) that private sector deposits with local banks increased last May by 2.0 percent to reach KD 6.36 billion.

The deposits of the private sector in foreign currencies decreased by 9.2 percent to reach KD 85.1 billion, while the total balances of local banks’ demands on the Central Bank decreased by 5.3 percent to reach KD 2.3 billion.

Also, the total assets of local banks increased by 7.0 percent last May, at KD 4.88 billion, while the net foreign assets of local banks increased by 5.6 percent to KD 5.13 billion. The term deposits with the central bank stabilized last May at KD 930 million, while the balances of cash credit facilities (loans) increased by 8.0 percent to KD 2.55 billion. — KUNA