Kuwait said banks cannot lend consumer borrowers more than the equivalent of 40 per cent of their salary in an effort to control money supply, the state-owned Kuwait News Agency reported on Monday.

For those on pensions, the equivalent is 30 percent, Kuna said, citing Central Bank Governor Salem Abdul-Aziz al-Sabah.

Kuwait's central bank asked commercial lenders to lower the salary ceiling against which they lend to individuals to 30 percent from 50 percent, Al-Watan reported earlier this month, citing unidentified banking sources. - Reuters