Press Releases

The Central Bank of Kuwait (CBK) Board of Directors in its meeting held on 8 October 2008 issued a number of resolutions concerning the supervisory instructions directed to banks. These resolutions resulted from the meticulous efforts that CBK exerts to monitor the extraordinary developments and circumstances caused by the crisis striking world financial markets, and in view of the constant review by CBK of its supervisory instructions issued to units under its supervision to update and conform them to economic and financial developments internally and externally. The resolutions include raising the maximum limit for the ratio of credit facilities to deposits from 80% to 85%, increasing the rate of growth set for bank credit portfolios during 2008 by 5 percentage points for each bank, and considering real estate as one of the acceptable items for the collateral qualified for inclusion in the calculation of the capital adequacy ratio. The CBK Board explained that it is closely monitoring the developing situation, and emphasized its readiness to take necessary measures to boost confidence and strengthen monetary and financial stability in the national economy.