Press Releases

The Central Bank of Kuwait (CBK) is keen as ever to support capacity strengthening and develop a national cadre that can contribute to the institutional development of Kuwait, said the Central Bank of Kuwait Governor, His Excellency Dr. Mohammad Y. Al-Hashel.

The Kafa’a initiative, launched by the CBK in cooperation with Kuwaiti Banks and run by the Kuwait Institute for Banking Studies (KIBS), is launching the seventh Master’s level scholarship program. This program is part of a strategic effort to bolster the banking sector, which plays a key role in supporting the national economy, Dr. Al-Hashel noted.

The CBK Governor and Board Chairman of KIBS added that this is a key Kafa'a program where Kuwaitis are offered scholarships to study financing, economics, accounting, and business administration in prestigious international universities. Throughout this program, 23 students have been awarded scholarships so far.

The scholarships cover tuition fees, health insurance, travel costs, books and resources' costs, and a monthly stipend for the duration of the scholarship. Furthermore, they cover fees for participation in a specialized conference and a one-time payment for furnishing and freight/shipping. There is also a bonus upon graduation.

Applications for this year are to be filed as of Sunday, March 14 until Thursday, June 3, 2021. Information on terms, conditions, and the application process is available through the KIBS website,  www.kibs.edu.kw .