United Bank Of Kuwait Markets Currency Fund For Gulf Investors
BANKS
United Bank of Kuwait Plc (UBK), the U.K.-domiciled commercial bank owned by 11 banks and investment organizations from the emirate of Kuwait, is developing a niche business in foreign exchange through a strategic currency fund launched in 1992.
Its supporters say Gulf-based investors have been slow to recognize currency funds as a separate asset class, but this prejudice is now fast disappearing.
UBK itself has emerged from the doldrums of the seven-month Iraqi invasion of Kuwait when Kuwaiti
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