Kuwait investigates local bank’s dealing with Israeli company

KUWAIT CITY, Kuwait (AA) – Kuwait said Sunday it has launched an investigation into suspicions of contracting with an Israeli company by a local bank.

In a statement, Finance Minister Abdulwahab Al-Rushaid said his ministry has formed a committee to investigate allegations that the Credit Bank has contracted with an Israeli company.

He said the bank had received a notice from the Audit Bureau that it was using a protection system for a company based in Tel Aviv.

The minister called for immediately scrapping the contract, if proved true.

The bank had earlier denied reports about contacting with an Israeli company, saying the firm is a registered entity in Kuwait and has required licenses.

Kuwait has no diplomatic ties with Israel, and refuses to allow holders of Israeli travel documents or passports to enter its territories.

*Writing by Ahmed Asmar