By Abdulla Fardan
Nov. 9 (Bloomberg) -- The Kuwaiti government will continue to guarantee bank deposits until the market has ``stabilized,'' with no time limit to the measure, state-Run Kuwait News Agency said today, citing comments by the central bank governor.
The guarantee is meant to enhance the competitiveness of local banks against foreign lenders that have benefited from similar measures in their countries, Sheik Salem Abdul-Aziz al- Sabah said, according to KUNA.
Kuwaiti banks should consider merger plans now to strengthen their financial positions and boost their capacity to take on risk, al-Sabah said.
``Shareholders should realize the various positives and benefits of a merger,'' he said.
To contact the reporter on this story: Abdulla Fardan in Bahrain at afardan@bloomberg.net
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