Danger surrounds depositors' money in Arab countries
September 29, 2021
Depositors in several countries became increasingly concerned about the lack of sufficient measures to protect their money (Al-Araby Al-Jadeed)
Depositors’ fears in Arab countries escalated from wasting their money and governments putting their hands on it, amid stifling economic and financial crises the region is going through, and at a time when the authorities put their hand on the deposits of the Lebanese, the concern of depositors in countries such as Yemen, Syria and Iraq increased in light of the lack of sufficient measures to protect their money.
Although countries resort to strict laws, funds and companies to protect customers' savings, observers have described it as insufficient with increased risks.
These concerns were accompanied by Kuwait’s search for legislation under which the government’s protection of depositors would be lifted