Press Releases

11.10.17Press Release: The Deputy Governor Participates in the "Conference on Governance: Governance in the State of Kuwait: Legislative, Financial and Administrative Framework"

The Deputy Governor of the Central Bank of Kuwait (CBK) Yousef J. Al-Obaid, presents a paper on "How Corporate Governance Contributes to Strengthening Regulatory Authorities’ Roles, and the Effective and Enhanced Control Systems in the Government Bodies to Ration the Public Expenditure and Combat Corruption" during the "Conference on Governance: Governance in the State of Kuwait: Legislative, Financial and Administrative Framework", held under the patronage of H.E. Marzouq A. Al-Ghanim, Speaker of the National Assembly, in the State of Kuwait during 10-11 October 2017.

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05.10.17Press Release: The Governor Receives the Fifth Batch of Graduates of the Kuwaiti Graduates Development Program (KGDP)

His Excellency the Governor of the Central Bank of Kuwait (CBK) and Chairman of Institute of Banking Studies, Dr. Mohammad Y. Al-Hashel, received the fifth batch of graduates of “Kuwaiti Graduates Development Program (KGDP)”, and congratulated them on their successful completion of the program and expressed his hope and aspirations for them with more success in their careers in the Kuwaiti banking sector. Dr. Al-Hashel affirmed that this program initiated by CBK in collaboration with the Kuwaiti banks is deemed a national project that contributes to develop and improve the skills and competencies of Kuwaiti national workforce with the aim to continue enhancing the banking industry in the country.

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03.10.17Press Release: CBK Announces the Launch of "Kuwaiti Economic Researcher Award"

His Excellency the Governor of the Central Bank of Kuwait (CBK) and Chairman of Institute of Banking Studies, Dr. Mohammad Y. Al-Hashel, announces the launch of the "Kuwaiti Economic Researcher Award".

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13.08.17Press Statement: CBK ِAnnounces the Publication of the Economic Report for 2016

The Central Bank of Kuwait (CBK) announces the publication of the Economic Report for 2016.

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09.08.17Press Statement: CBK Announces the Publication of the Financial Stability Report for 2016

Press Statement: CBK Announces the Publication of the Financial Stability Report for 2016.

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08.08.17Press Statement: CBK Announces the Publication of the Annual Report for the Fiscal Year 2016/17

His Excellency, Dr. Mohammad Y. Al-Hashel, the Governor of the Central Bank of Kuwait (CBK), announced the release of the CBK’s Annual Report for FY2016/17, which is the 45th issue of Annual Reports series prepared and published by CBK. The Governor clarified that the report contains CBK Balance Sheet and Profit & Loss Account for the FY ended 31st March 2017 and the Auditors’ Report on the financial statements. In addition, the report outlines the key developments in the main monetary and banking indicators and aggregates in the areas of the KD exchange rate, domestic interest rates, money supply, deposits, bank credit, domestic liquidity, public debt instruments, aggregate balance sheet of local banks, and domestic inflation rate in addition to CBK’s regulatory and supervisory efforts as well as the major banking operations and key tasks performed by CBK to improve its manpower capabilities and modernize its IT infrastructure.

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14.06.17Press Release: CBK Maintains Discount Rate at Current Levels

In a release to the press, His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, highlighted recent domestic economic, monetary and banking conditions and developments and their future trends, as well as the recent developments in US Dollar, interest rates and the key trends of CBK monetary policy. Dr. Al-Hashel noted that the continuous monitoring by CBK indicate a modest growth in domestic economic activity, supported by public expenditure, particularly capital expenditure, despite low crude oil prices, on one hand, and increasing interest rate on the US Dollar in light of the decision by US Federal Reserve on 14-06-2017 to raise further the interest rates on the other hand.

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06.05.17Press Release: CBK and AAOIFI Organize Workshop on Developing the Islamic Financial and Banking Business

The Central Bank of Kuwait (CBK) Organizes, in collaboration with "Accounting and Auditing Organization for Islamic Financial Institutions" (AAOIFI), a workshop on developing the Islamic financial and banking business and enhancing the related professional capabilities and know-how, held in CBK headquarters during Sunday & Monday 7-8 May 2017.

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04.05.17Press Release: Key Developments in the Balance of Payments of the State of Kuwait for the Year 2016

The Central Bank of Kuwait (CBK) published today the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for 2016 and the revised data of 2015. Data shows that the Current Account (which sums up transactions between domestic economy and other economies encompassing goods, services and income) recorded a deficit of KD 1510 million during 2016 (4.5% of total estimated 2016 GDP at current prices) against a surplus of KD 1208 million during 2015 (3.5% of 2015 GDP at current prices). The mentioned deficit in the current account reflects mainly the decrease in the value of oil exports on the one hand, and relative stability in the value of merchandise imports on the other causing a drop in the surplus of the Balance on Goods (merchandise exports minus merchandise imports on FOB basis) to reach KD 6075 million during 2016 compared to KD 8396 million during the previous year. Furthermore, deficit in the Services Account ((Net) reflects the value of services transactions between residents and non residents, the most important of which are transportation, travel, communications, construction, other services and government goods and services) increased to reach KD 6353 million during 2016 compared to a deficit of KD 6011 million during the previous year.

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15.03.17Press Release: CBK Raises Discount Rate by a Quarter Percentage Point to 2.75% From 2.50%

His Excellency the Governor and Chairman of The Board of Directors of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced in a press statement that CBK Board of Directors decided to raise the discount rate by a quarter percentage point to 2.75% from 2.50% effective from 16-03-2017. The Governor added that this decision is based on the continuous monitoring by CBK of the domestic economic, monetary and banking conditions including movements of the KD interest rates in the domestic market taking into consideration movements in interest rates on major international currencies. Dr. Al-Hashel further explained that the decision to raise the discount rate reflects CBK’s efforts to ensure the continued competitiveness and attractiveness of the national currency as a store of domestic savings, which constitute a major source of funding provided by the local banking and financial units to the various sectors of the national economy and thus maintain a supporting environment for sustainable economic growth and development.

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