KUWAIT, Oct 26 (Reuters) - Kuwait's government will prepare an urgent bill to guarantee deposits at local banks after the central bank said on Sunday it was forced to step in to support Gulf Bank GBKK.KW after it suffered losses.
The central bank said on the bourse website it had halted trading in the lender and would appoint a supervisor for several bank activities after some clients had refused to cover their losses from derivatives trading, leaving the bank to foot the costs.
Reporting by Ulf Laessing; Editing by Lin Noueihed
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