CBK Directory

Governor's Office

The Governor's Office is entrusted with the responsibility of facilitating, organizing and coordinating all communications related to the Governor with the internal departments and offices, and the external entities. 

Furthermore, the Governor's Office manages and updates CBK's website.

Bader A. Al-Kandery

Manager, Office of the Governor

Tel:

(965) 22443384

(965) 22436711

Fax:

(965) 22403651

(965) 22464887

Email Address:

govroff@cbk.gov.kw

Deputy Governor's Office

Supervising all affairs related to the Deputy Governor's Office, following-up on the implementation of decisions and recommendations emerging from meetings held by the Deputy Governor, following-up on the organization of data and information, as well as maintaining their confidentiality.

Manager, Office of the Deputy Governor

Tel:

(965) 22426626

(965) 22423343

Fax:

(965) 22433461

Email Address:

dgov@cbk.gov.kw

Legal Office

Objectives

The main objectives of the legal office are to monitor the implementation of the provisions of the CBK Law, to ensure that the Bank’s activities are conducted in accordance with Law, and to provide consultation regarding all legal activities concerning the application of the provisions of CBK Law, rules and regulations in force in the Bank’s various departments and related external bodies.

Functions

  • Applying provisions of the CBK Law, rules and regulations issued by the Bank, and recommending amendments, as needed.
  • Preparing drafts of the regulations and provisions issued by the Board of Directors of CBK or by the Governor.
  • Preparing contracts and agreements involving CBK.
  • Responding to questions and inquiries from departments inside the Bank, or from third parties outside the Bank concerning the application of provisions of the CBK Law, rules, regulations, decisions in force, as well as all legal matters involving CBK.
  • Conducting necessary investigations of the administrative offences of CBK employees.
  • Preparing statements of legal rules and procedures of the banking operations conducted by CBK with others, such as cheque cashing, and documentation letters of credits and assuring their conformity under law.
  • Preparing studies of proposed or approved legislation related to CBK or to banks and finance companies.
  • Preparing legal opinions issued to the banks and to other third parties and carrying out cases involving CBK.

Mohamed A. Shafik

Acting Manager, Legal Office

Tel:

(965) 22462257

Fax:

(965) 22465970

Email Address:

LG.legal@cbk.gov.kw

Internal Audit Office

The Internal Audit Office reports directly to the Central Bank of Kuwait’s Board of Directors in order to exercise its powers, competences and responsibilities independently and not subject to the authority of any of other department in CBK. Therefore, the Internal Audit Office sends its audit reports and recommendations to the Board of Directors directly.

Objectives, powers, and competencies:

  • Safeguarding all the Bank's assets and applying procedures that ensure efficient operations and organization, as well as ensuring the validity of all liabilities.
  • Reviewing internal control systems for the Bank's transactions, ensuring the effectiveness of their application and submitting reports of any possible gaps.
  • Working with other departments to determine the transactions (including new transactions) subject to audit, either directly or through sampling.
  • Ensuring that all transactions are recorded according to the instructions and regulations issued by CBK, and under Generally Accepted Accounting Principles.
  • Verifying that the budget and the profit and loss account truly reflect the Bank's financial position.
  • Supervising budget expenditure items.
  • Collaborating with other departments to address accounting policy issues.
  • Collaborating with the CBK's external auditors.
  • Developing audit systems and programs in the Bank and tracking global developments in internal audit.
  • Submitting reports to the Central Bank of Kuwait’s Board of Directors regarding sensitive issues.
  • Supervising automated systems and assuring that proper security systems are in place.

Sheikh Mohammad S. Al-Sabah

Manager, Internal Audit Office

Tel:

(965) 22436614

Fax:

(965) 22465976

Email Address:

audit@cbk.gov.kw

Mustafa M. Al-Mazidi

Deputy Manager, Internal Audit Office

Tel:

(965) 22443395

Fax:

(965) 22465976

Email Address:

audit@cbk.gov.kw

Financial Stability Office

The objective of the Financial Stability Office (FSO) is to not only ensure stable banking institutions on an individual basis in accordance with micro prudential supervision, but also a robust financial system within the framework of macro prudential supervision.

The tasks and responsibilities of the FSO include contributing to a sound financial system capable of withstanding financial and economic shocks; enhancing financial stability and alleviating the impact of financial stress by applying an early warning system based on an objective assessment of risks; and utilizing financial stress testing and macroeconomic models in identifying key vulnerabilities and suggesting appropriate corrective measures. Moreover, the office assists in maintaining an effective internal supervisory system, and promoting sound risk management and governance practices in financial institutions.

Manager, Financial Stability Office

Tel:

(965) 24916288

(965) 24916289

Fax:

(965) 24916285

(965) 24916286

Email Address:

fso@cbk.gov.kw

Supervision Sector

The Supervision Sector at CBK assumes the responsibility for implementing Chapter Three of the Central Bank of Kuwait Law and all related regulations and instructions issued by CBK.

The main purpose thereof is to contribute to the soundness and stability of the banking and financial system in order to safeguard depositors, and ensure that banking and financial institutions abide by relevant laws, resolutions and CBK instructions leading to proper application of monetary and credit policies.

Waleed M. Al-Awadhi

Executive Director, Supervision Sector

Tel:

(965) 22458644

Fax:

(965) 22458582

Email Address:

supervision@cbk.gov.kw

Information Systems (IS) Coordination & Supervision Unit

The Unit assesses the compliance of banking and financial institutions subject to CBK supervision with the CBK decisions regarding information systems and technology.

In addition, the unit reviews the requests related to the use of information systems and technology submitted by the financial institutions subject to CBK supervision, and provides technical recommendations for senior management at CBK.

Basel M. Al-Hashash

Head, IS Coordination and Supervision Unit

Tel:

(965) 22972722

Fax:

(965) 22425610

Email Address:

IS.supervision@cbk.gov.kw

Documents Management Unit

The Documents Management Unit manages the automated archiving system to store documents of Supervision Sector and ensure proper follow-up and monitoring thereof. In addition, It presents recommendations to maintain and reinforce confidentiality and security of the system.

The Unit is also responsible for security of all documents and the appropriate storage thereof in the designated files, manually and automatically, to ensure the prompt and easy retrieval of documents in a timely manner.

Anwar A. Al-Suwailim

Head, Document Managemment Unit

Tel:

(965) 22975029

Fax:

(965) 22431380

Email Address:

supervision@cbk.gov.kw

On-Site Supervision Department

On-Site Supervision Department assumes the responsibility for monitoring the activities of banking and financial institutions [banks, investment companies (with respect to finance activity), finance companies, and exchange companies], to ensure their compliance with provision of relevant laws  and supervisory regulations and instructions.

Additionally, the department is concerned with overseeing CBK effort for combat of money-laundering and financing of terror, following up complaints and appeals submitted to CBK by those dealing with CBK-regulated entities, and proposing the related supervisory regulations and instructions thereof.

Abdulhameed D. Al-Awadh

Manager, On-Site Supervision Department

Tel:

(965) 22448438

Fax:

(965) 22468518

Email Address:

sv.onsite-mngr@cbk.gov.kw

Deputy Manager, On-Site Supervision Department

Tel:

(965) 22972188

Fax:

(965) 22973567

Email Address:

sv.onsite-dp@cbk.gov.kw

Off-Site Supervision Department

The department assumes the responsibility for monitoring off-site duties across the activities of banking and financial institutions, in order to ascertain the soundness and stability of the banking and financial System.

The Off-site Supervision Department receives periodic financial returns from institutions subject to CBK supervision, issues supervisory regulations, resolutions and instructions to such institutions, reviews and analyses ongoing banking and financial trends and monitors their impact on the soundness and stability of the institutions subject to CBK supervision.

The department also performs studies to assess applications to establish new banking and financial institutions or for new branches, articles of association, banking services and by-laws; and organizes and maintains registers of the institutions subject to CBK supervision.

The Off-site Supervision Department prepares CBK recommendations on issues concerning banking and supervisory conditions, and develops a dialogue with worldwide supervisory bodies and concerned international institutions, to stay informed and updated on the latest worldwide trends and developments in the area of supervision of banking and financial activities.

Abdullah A. Al-Mehri

Manager, Off-Site Supervision Department

Tel:

(965) 22493868

Fax:

(965) 22431380

Email Address:

sv.offsite-mngr@cbk.gov.kw

Reem M. Al-Roumi

Deputy Manager, Off-Site Supervision Department, Statistics & Credit Affairs

Tel:

(965) 22430864

Fax:

(965) 22403752

Email Address:

sv.offsite-dp-sc@cbk.gov.kw

Deputy Manager, Off-Site Supervision Department, Supervision & Policies Affairs

Tel:

(965)

Fax:

(965)

Email Address:

sv.office@cbk.gov.kw

Organization & Administration Sector

The main tasks of the Executive Director of Organization and Administration Sector are to supervise the functions of the Human Resources Department such as: providing individualized services in personnel affairs, developing plans and programs that aim at improving ways and methods of work in addition to the level of staff performance, as well as developing and updating the CBK personnel career tracks.

Furthermore, the sector is responsible for supervising the tasks of the Administrative Services Department's functions of the Security and Safety Section and the Maintenance Section, as well as following-up the procedures of the Services and Printing Section.

Executive Director, Organization and Administration Sector

Tel:

(965) 22448438

Fax:

(965) 22468518

Email Address:

as.edoas@cbk.gov.kw

Human Resources Department

This department is concerned with following up on human resources matters in the Central Bank of Kuwait (CBK) and developing plans for occupational development, in addition to identifying and addressing training needs. The department also plans, coordinates and follows up on training programs, develops organizational and occupational structures and work procedures. The department also prepares jobs descriptions, and evaluations and develops salary and benefit systems.

Moreover, this department is responsible for completing and following up on all processes for hiring qualified employees, and related salaries and benefits issues, in addition to maintaining and archiving all documents related to human resources, and issuing necessary statistical information.

Waleed I. Al-Khubeazi

Manager, Human Resources Department

Tel:

(965) 22443362

Fax:

(965) 22419215

Email Address:

hr@cbk.gov.kw

Ahmed F. Al-Nouri

Deputy Manager, Human Resources Department

Tel:

(965) 22415191

Fax:

(965) 22425693

Email Address:

hr@cbk.gov.kw

Administrative Services Department

The Administrative Services Department (ASD) is responsible of providing CBK premises with integrated security services, in addition to meeting CBK’s needs of numerous publications, and undertaking CBK’s official proceedings with other entities in a timely manner.

ASD is also responsible of monitoring and developing the periodic maintenance schedules for CBK’s devices & equipment, and maintaining and replenishing CBK inventory of materials and supplies in terms of quality and quantity at competent prices. ASD also monitors the implementation of CBKs’ contracts in coordination with the various authorities and departments, and strengthen CBK’s relations with government and non-government bodies.

Yousef F. Al-Ali

Manager, Administrative Services Department

Tel:

(965) 22404260

Fax:

(965) 22402715

Email Address:

asd@cbk.gov.kw

Deputy Manager, Administrative Services Department, Security and Administrative Services Affairs

Tel:

(965) 22428256

Fax:

(965) 22443367

Email Address:

as.dssd@cbk.gov.kw

Adel M. Al-Sufran

Deputy Manager, Administrative Services Department, Purchasing and Maintenance Affairs

Tel:

(965) 22975233

Fax:

(965) 22457331

Email Address:

Information Technology & Banking Operations Sector

The Information Technology & Banking Operations Sector is responsible for the overall information technology environment at CBK, as well as banking services and operations offered by the Central Bank of Kuwait. These include the activities of: the Banking Operations Department, Information Systems & Operations Department, IT Strategic Planning Department & IT Security Unit.

Anwar B. Al-Ghaith

Executive Director, Information Technology and Banking Operations Sector

Tel:

(965) 22451568

Fax:

(965) 22443357

Email Address:

bito@cbk.gov.kw

IT Security Unit

The IT Security Unit protects the confidentiality, integrity and availability of information by ensuring that appropriate security controls and standards are implemented, as well as ensuring that all CBK employees comply with CBK’s security regulations, policies, procedures and standards to achieve a secure environment.

The Unit is also responsible for raising CBK employees' awareness in the field of information security in order to minimize security risks.

Majed A. Al-Adwani

Head, IT Security Unit

Tel:

(965) 22973729

Fax:

(965) 24919854

Email Address:

itsu@cbk.gov.kw

Information Systems & Operations Department

The Information Systems & Operations Department provides information technology services to all CBK sectors, departments and offices. The department develops systems, applications and technology solutions that are in line with IT sector strategic direction through state of the art technology.

The department establishes plans to maintain a resilient and continuous operational infrastructure to support CBK current and future strategic directions. Additionally, it provides technical support for all the users of CBK systems and services.

Jehan M. Al-Qabandi

Manager, Information Systems and Operations Department

Tel:

(965) 22973703

Fax:

(965) 24919870

Email Address:

isod@cbk.gov.kw

Haidar H. Al-Saffar

Deputy Manager, Information Systems and Operations Department, Technical Support and Operations

Tel:

(965) 22973049

Fax:

(965) 24919860

Email Address:

isod@cbk.gov.kw

Deputy Manager, Information Systems and Operations Department, Information Systems Affairs

Tel:

(965) 22972407

Fax:

(965) 24919860

Email Address:

isod@cbk.gov.kw

IT Strategic Planning Department

The IT Strategic Planning Department develops strategic plans for information technology for all CBK sectors, departments and offices. IT Strategic Planning establishes, based on research and internal studies, proper IT policies and procedures that are in-line with best international standards, and ensures adherence to policies and procedures using suitable quality measures. Furthermore, the department ensures proper management and execution of CBK’s IT projects.

The department is also responsible for reviewing CBK’s existing processes and procedures to improve their effectiveness and efficiency. In addition, the department is involved with continuously raising IT awareness and supporting IT education and training.

Reem Y. Al-Omani

Acting Manager, IT Strategic Planning Department

Tel:

(965) 24919858

Fax:

(965) 24919859

Email Address:

itsp@cbk.gov.kw

Banking Operations Department

Banking Operations Department is structured under the Information Technology and Banking Operations Sector and organized into four sections namely Current Accounts, Budget Section, Development and Security Issue Section and Monetary Section.

Banking Operations Department undertakes the following duties and responsibilities:

  • Managing the government's accounts and acting as the State's bank.
  • Operating the Real Time Gross Settlement System – KASSIP (Kuwait's Automated Settlement System for Inter-participant Payments).
  • Providing credit facilities to local banks by discounting and rediscounting of commercial papers or by lending in accordance with the regulations and instructions in this regard.
  • Processing banking sector swaps including cheque clearing through CBK Clearing Room.
  • Overseeing the National Payment System and other financial settlements.
  • Payment of cheques drawn on the accounts opened with CBK, and receipt of cash deposits in such accounts.
  • Sale of public debt instruments, receiving applications for subscription to Kuwaiti bond and treasury bills, processing allocations and handling process of settlement upon debt maturity.
  • Managing the internal accounts of the Bank, and overseeing payments from the various budget items.
  • Preparing CBK budget and closing accounts as well as the Balance Sheet and Profit & Loss Account.
  • Preparing the periodical financial statements and reporting.
  • Acting as custodian of the Bank's precious assets such as gold, banknotes, coins and gold bullions.
  • Overseeing stock of banknotes and coins to ensure sufficiency thereof for withdrawal requirements, and estimating the replenishing quantities.
  • Inspecting local banks to verify their commitment to CBK instructions and circulars regarding sorting and examination of Kuwaiti currency for fitness & counterfeiting.
  • Managing all aspects of currency printing and coin minting, in addition to safekeeping and destruction of unfit notes.
  • Follow up of designing, minting, and selling commemorative banknotes and coins.
  • Taking the necessary actions in case of any reporting of suspicious banknote or coin.

Abdullah M. Al-Shatti

Manager, Banking Operations Department

Tel:

(965) 22443425

Fax:

(965) 22403652

Email Address:

bod@cbk.gov.kw

Hussein A. Shehab

Deputy Manager, Banking Operations Department, Accounts & Budget Affairs

Tel:

(965) 22438746

Fax:

(965) 22403204

Email Address:

bod@cbk.gov.kw

Foreign Operations Department

The Foreign Operations Department (FOD) is responsible for making recommendations and suggestions necessary to ensure monetary stability in the State of Kuwait. FOD is also responsible for the implementation of CBK’s monetary policy through monitoring and analyzing interest rates and their impact on local liquidity levels, through withdrawing excess funds and covering fund shortages , based on market trends and central bank practices as a last resort.

In addition, FOD is responsible for investing CBK’s foreign currency assets and gold reserves in international markets based on CBK’s policy in reserves management, taking into consideration the financial position of the banks which FOD invests with. Such banks should have high rating by international credit rating agencies.

FOD also manages the issuance of public debt instruments on behalf of the Ministry of Finance, and functions as the Government’s bank, performing trade transactions including transfers and letter of credits carried out in foreign currencies, as well as collecting cheques for the benefit of the State’s ministries and public institutions.

Moreover, FOD is responsible for maintaining CBK’s relations with other central banks and international monetary and financial institutions.

Anwar B. Al-Ghaith

Acting Manager, Foreign Operations Department

Tel:

(965) 22468516

Fax:

(965) 22443392

Email Address:

fod@cbk.gov.kw

Masoud S. Al-Ajmi

Deputy Manager, Foreign Operations Department, Treasury Affairs

Tel:

(965) 22436697

Fax:

(965) 22443392

Email Address:

fod@cbk.gov.kw

Munther S. Al-Aiban

Deputy Manager, Foreign Operations Department, Operations Affairs

Tel:

(965) 22493876

Fax:

(965) 22443392

Email Address:

fod@cbk.gov.kw

Economic Research Department

This department is responsible for monitoring and analyzing domestic and international economic developments and their future trend and anticipated impact on the performance of the State's economy in general, and the banking and financial sector in particular, with the aim to assist the Central Bank of Kuwait (CBK) to achieve its core objectives. The Department is also responsible for the enhancement of CBK's relations with regional and international bodies including the Gulf Cooperation Council and the International Monetary Fund.

Furthermore, the Department contributes technical views supporting CBK's role as a financial advisor to the government of Kuwait. In fulfillment of its objectives, the Economic Research Department collects and analyzes various economic data provided by different sources, and data concerning the Balance of Payments of the State of Kuwait. Moreover, the Department publishes the Annual Report, Monthly Monetary Statistics, Quarterly Statistical Bulletin and Economic Report, and provides up-to-date economic and financial information and data to CBK's and other interested researchers.

Bader A. Al-Kandery

Manager, Economic Research Department

Tel:

(965) 22403257

Fax:

(965) 22440887

Email Address:

econ@cbk.gov.kw

Abeer A. Al-Sabti

Deputy Manager, Economic Research Department

Tel:

(965) 22972324

Fax:

(965) 22436629

Email Address:

er.dymgr@cbk.gov.kw

Communications & Public Relations Department

Communications & Public Relations department is responsible of drafting CBK’s media and public relations strategies and supervising its implementation. The department is also responsible of monitoring and following up all published material through media regarding CBK, local banking and financial sectors. The department also organizes conferences, seminars, interviews, meetings and all other events held by CBK.

Moreover, the department is responsible of preparing the answers to inquiries submitted to CBK and strengthening ties with local and international media (visual, audio, printed and electronic).

Talal S. Al-Shammari

Manager, Communications & Public Relations Department

Tel:

(965) 22448490

Fax:

(965) 22448426

Email Address:

CPR.Dept@cbk.gov.kw

Fadel A. Al-Mandi

Deputy Manager, Communications & Public Relations Department

Tel:

(965) 22448417

Fax:

(965) 22493898

Email Address:

CPR.Dept@cbk.gov.kw