Kuwait’s Gulf Bank suffered a technical issue which could result in a loss of up to $9.2m

Kuwait’s Gulf Bank endured a technical issue on Saturday that could result in lost up to $9.2m (KD2.8m).

The bank issued an announcement on its Twitter account uncovering a few subtleties of the issue, without depicting the reason for the occurrence.

The technical saw an interruption in the bank’s service that affected its global exchanges, however did not influence any of its clients.

“In view of our present evaluation, this service disturbance may result in a most extreme potential misfortune to the bank of 2.8 million dinars. To give every one of our partners comfort, this adds up to just 0.4 percent of our capital”, it said.

In a different proclamation, Kuwait Banking Association (KBA) guaranteed clients that nearby banks in Kuwait “appreciate abnormal state of cybersecurity and security of the information and data of their customer base”.

“The banks, aside from the Gulf Bank, detailed no hacking or altering their data frameworks,” KBA said in a public statement, asserting responsibility of all banks to guaranteeing the wellbeing of the records of their customers.

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