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 policies and regulations. The department is also concerned with overseeing the combat of money-laundering and financing of terror.

Additionally, the department is following up complaints and appeals submitted to CBK by those dealing with CBK-regulated entities, issuing the regulatory instructions, proposing penalties on the violating entities and taking the necessary actions in this regard.

The department encompasses the following sections and units:

The Inspection Section

This section assumes the following responsibilities:

  1. Conduct regular comprehensive inspections of the banking and financial institutions [banks, investment companies (with respect to finance activity), finance companies, and exchange companies], in order to ascertain the soundness of their financial positions as well as their adherence to the provisions of their articles of association and relevant laws, resolutions and instructions, assess adequacy of their internal control systems, verify the soundness of statistical data they submit to CBK, evaluate their management performance and prepare the reports of inspection findings. 
  2. Follow up the rectification of remarks and violations revealed by inspections, while observing full coordination with the Off-site Supervision Section in this regard.
  3. Conduct inspection missions with specific objectives,  either to determine certain problems or phenomena, or to verify remedial measures being taken, and for any other reasons necessitating the carrying out of on-site inspection.
  4. Participate with the Off-site Supervision Department of Supervision Sector in the preparation of studies on the general banking phenomena revealed by inspections, to monitor the effect of these phenomena on the objectives and policies of CBK and on banking performance, and to suggest the means for remedying and curbing them.
  5. Develop the methods for inspection of banking and financial institutions, in line with relevant worldwide developments.

Anti Money Laundering Section

This section assumes the following responsibilities:

  1. Propose the policies, regulations and instructions issued by CBK with regard to combating money-laundering and financing of terror in units subject to CBK supervision.
  2. Follow up all correspondence received by CBK on the operations mentioned in the above item, and take necessary measures in this regard.
  3. Conduct inspection missions on the CBK-regulated units to ensure their abidance by all t the instructions, ministerial resolutions and provisions of the laws related to combating money-laundering and financing of terror.
  4. Coordinate with local committees regarding combating money-laundering and financing of terror in terms of the requirements to be observed by CBK-regulated units.
  5. Follow up the local, regional and international developments with respect to combating money-laundering and financing of terror, and may, for this purpose, communicate with the related foreign entities.
  6. Coordinate with the Inspection Section within the department to ascertain compliance by CBK-regulated units with the relevant instructions and regulations.

Customer Protection Unit

This unit assumes the following responsibilities:


  1. Receive and study complaints submitted to the Central Bank of Kuwait (CBK) by customers of the units that are under CBK supervision.
  2. Observe abnormal practices resulted from the interpretation of those complaints, analyze their causes and recommend solutions.
  3. Recommend awareness tools for the customers of those units that are under CBK supervision.
  4. Answer customer inquiries regarding products and services of those units.
  5. Provide the customer of those units with full information regarding products and services related to consumer and installment loans, credit cards, fees and commission.
  6. Recommend imposing of penalties against violating units, and taking considerable measures regarding that matter.
  7. Establish a database involves the number and nature of complaints and the procedures taken regarding them.
  8. Cooperate with the filed service inspector teams to examine the complaints and to follow up the procedures taken regarding that matter.
  9. Cooperate with the filed service inspector teams to examine those units’ consumer and installment loans portfolio, credit cards, fees, commission and any negative practices exist through reports presented by those units to the CBK.