Common Contracts
1 similar Gats Agreement contracts
The GATS Agreement And Liberalizing The Kuwaiti Banking SectorGats Agreement • December 23rd, 2001
The GATS will affect the performance of the Kuwaiti banking sector, if it is realized by the year 2003. The Kuwaiti banking sector was selected for this study because it is inefficient and because it exists in a capital-abundant economy, where the number of institutions are small and have traditionally been over-protected by the government. Kuwait must prepare its financial sector to face international competitiveness, by reducing costs and increasing efficiency and quality, as foreign banks are allowed to enter the financial market and operate. Though this move may hold positive prospects for banks to expand their market share, it also poses a challenge to Kuwaiti banks to operate at global, international standards.
