Bankers question status of account secrecy for expats – ‘Treaty mirrors FATCA’

KUWAIT CITY, Nov 30: “Is Kuwait moving towards lifting the ‘banking secrecy’ of expatriates’ bank accounts?” — This question was raised by banks to the Central Bank of Kuwait during a recent meeting.

However, they did not receive a transparent answer that could dispel the banking sector’s fear that such a move could possibly lead to reduced deposit of expatriates’ savings

FULL ARTICLE http://www.arabtimesonline.com/news/bankers-question-status-account-secrecy-expats-treaty-mirrors-fatca/

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