Kuwait's parliament on Wednesday passed a government-sponsored bill to guarantee deposits at  banks after the country's fifth-biggest lender, Gulf Bank, was hit by currency derivatives losses.

Kuwait's central bank governor, meanwhile said on Wednesday he was confident troubles at Gulf Bank, which the Gulf Arab state earlier this week saved after currency losses, would not spread to other lenders.

"I'm not worried at all about the others," Sheikh Salem Abdul-Aziz Al-Sabah said when asked whether other banks would face similar problems, adding that Gulf Bank would be now restructured.-Reuters