CBK Sets Up Fund to Support State Efforts Against Novel Coronavirus
The Central Bank of Kuwait (CBK) announced, Sunday March 8, 2020, the establishment of a KD 10 million fund that would support the State of Kuwait’s efforts to combat the spread of the novel Coronavirus, funded by Kuwaiti banks for that purpose. This comes as part of its national and social contributions amid the increasing spread of Coronavirus disease (COVID-19) globally.
The founding of the fund was announced in a press release by CBK Governor Dr. Mohammad Y. Al-Hashel, who remarked that this contribution comes to fulfill the banking sector’s social and national responsibility. He added this comes in addition to previous CBK-led efforts and measures on the part of all regulated entities to ensure no effort is spared where protection and prevention is concerned.
The governor pointed out the fund is at the Cabinet’s disposal, which shall direct how the funds are dispensed to finance urgent and necessary requirements of the different government agencies measures in this regard.
In conclusion, the governor lauded Kuwaiti banks for their swift response to the CBK request and their contributions to the fund, and praised their total compliance with CBK instructions and recommendations serving to protect banks’ customers and staff against the spread of the virus.