CBK Monthly Monetary Statistics - Overview
statistical data is presented here, which includes CBK assets, liabilities,
and a number of Local Banks reports.
Definitions of Monetary Variables, Symbols and Notes
- Monetary Base or Money Supply in its Narrow Definition (MO):
Signifies currency issued, demand and time deposits of local banks' and other resident financial institutions,
with the CBK, in addition to CBK Bond holdings of local banks and investment companies.
- Currency in Circulation:
Signifies the nominal value of currency in circulation with the public,
i.e. currency outside the vaults of local banks and it equals the nominal
value of currency issued minus cash balances in vaults of local banks.
- Money (MI):
Currency in circulation with the public + sight deposits (private deposits
in KD). Money means money supply in its narrow definition (MI).
Savings deposits (in KD) + time deposits (in KD) + foreign currency deposits
+ CDs (in KD). The private sector maintains quasi-money components
with local banks.
- Certificates of Deposit:
Negotiable financial papers denominated in Kuwaiti dinars. The term quasi-money
also includes that portion of CDs issued by Kuwaiti local banks and held
by other parties (i.e. excluding the portion held by these banks themselves).
- Money Supply in its Broad Definition (M2):
Money (M1) + quasi-money.
- Money Supply in its Broader Definition (M3):
Includes money supply in its broad definition (M2), plus private sector
deposits with deposit-accepting investment companies.
- Claims on the Private Sector:
Credit facilities extended by local banks to the private sector + domestic
investments by local banks + CDs issued by other non-bank private sector
units and held by local banks.
- Credit Facilities:
Discounts and advances provided by local banks to residents, either in the
form of overdrafts, or loans for specific purposes and fixed terms, whether
given in both local or foreign currencies to persons, financial or non-financial
companies and institutions (other than banks).
- Private Sector:
It means individuals, institutions and companies belonging to private, joint
or public sectors, including public institutions with independent budgets (excluding the Savings and Credit Bank).
Ministries, governmental departments, and public institutions with
attached budgets and the Savings and Credit Bank.
- Local Banks:
Include commercial banks (National Bank of Kuwait, Commercial Bank of Kuwait,
Gulf Bank, Al-Ahli Bank of Kuwait, the Bank of Kuwait & the Middle East,
Burgan Bank, the branch of the Bank of Bahrain & Kuwait, the branch of the BNP Paribas Bank, the branch of HSBC Middle East Bank, the Branch of the National Bank of Abu Dhabi and the branch of Citibank, the branch of the Qater National Bank, and the branch of the Doha Bank) and specialized bank (Industrial Bank of Kuwait), in addition to banks operating according to the provisions of Islamic Sharia (Kuwait Finance House, Boubyan Bank, and International Bank of Kuwait "previously Kuwait Real Estate Bank").
- Other Deposit Liabilities with Local Banks:
Such as matured time deposits not covered by instructions for renewal from
customer, deposits belonging to customers at branches and resulting from
the payment of salaries by the government and institutions through the main
office, funds due to commission agents concerning letters of credit, salaries
or funds transferred to certain customers who have no sight deposit accounts,
or who have accounts but no mention is made of the number, and suspense
accounts (the address of the customers is unknown, for example), as well
as other liabilities.
- Exchange Companies:
Exchange Companies encompass those companies subject to CBK's supervision and licensed to exercise banking activities (such as purchasing and selling currencies, travelers cheques and drafts, trading in precious metals, and collecting cheques and drafts drawn on foreign entities). These companies do not encompass individually-owned exchange institutions which are not subject to CBK's supervision.
- Credit Cards:
Are cards which provide customers with credit up to certain limits, to be used for payment purposes. In general, there are two types of credit cards:
- The first type (referred to as Charge Cards), does not allow payment by installment of the amount debited using the card, but requires total settlement usually at month-end.
- The second type (referred to as Credit Cards) allows payment by installment according to the CBK's relevant instructions.
- Debit Cards:
Debit Cards are cards which directly debit the customer's account. Their limits are the available balance in the customer's account, and they are linked to the customer's account at the issuing bank.
- Valid Cards:
Represents credit/debit cards valid as at end of period, and is calculated as the total number of these cards valid at the start of the period, PLUS their total number issued for the first time during the period, LESS the total number of these cards which were cancelled and not renewed during that period.
- Point-of-Sale Machines:
Are machines which local banks (conventional, Islamic, and foreign bank branches) provide to the traders among their customers, for processing the credit/debit card payment transactions of these traders' customers.
Automatic Teller Machines (ATM's) are operated or loaded by local banks (conventional, Islamic, and foreign bank branches), whether owned by these banks or by the K-Net Company, and are used to process cash withdrawal operations carried out through plastic cards, as well as other banking transactions.
Symbols and Notes
|| Provisional, or estimated figures
||Magnitude zero or insignificant
||Significant breaks in the homogeneity of a series are indicated by a
horizontal or vertical line across the series.
||The slight discrepancies in totals or percentages are due to rounding.
- Tables in this bulletin encompass the available data at local banks and investment companies registered with CBK.
- As of December 2004 tables in this publication encompass data updated according to the Islamic Banking Supervision (IBS) forms, in addition to data on the BNP Paribas Bank (Kuwait Branch) as of March 2005, the HSBC Middle East Bank (Kuwait Branch) as of September 2005, the National Bank of Abu Dhabi (Kuwait Branch) as of November 2005, and the Citibank (Kuwait Branch) as of April 2006, the Qater National Bank (Kuwait Branch) as of December 2007, and the Doha Bank (Kuwait Branch) as of June 2008. These tables also include aggregate financial data on conventional investment companies and investment companies operating according to the provisions of Islamic Sharia, as of December 2001.
- Deposits of the Savings and Credit Bank were reclassified under Government deposits.