Press Releases

18.10.21Press Statement

National Bank of Kazakhstan Requests CBK Insight on E-Settlement Systems, BIS Membership

The Central Bank of Kuwait (CBK) was invited to a consultative session by the National Bank of Kazakhstan, which focused on monetary policy, regulatory policy, and electronic settlement systems. The virtual meeting, held on Monday, October 18, 2021, also shed light on CBK’s membership within the Bank for International Settlements (BIS).

The conferees discussed several aspects of central banks’ business, the CBK’s membership and engagement within the BIS, which promotes global monetary and financial stability, and means of cooperation with the Kazakh Bank in this regard.

Founded in 1930, the Bank for International Settlements (BIS) is an international entity owned by members including Kuwait, and it states its mission as “to support central banks' pursuit of monetary and financial stability through international cooperation, and to act as a bank for central banks.” The BIS, which conducts policy analyses and studies, groups such prominent entities under its umbrella as the Basel Committee on Banking Supervision (BCBS), which focuses on developing global regulatory standards and banks’ macro-prudential and micro-prudential policy. BIS membership currently comprises central banks of 30% of world countries, and these nations combined in turn account for 95% of global GDP.

The CBK is keen to cooperate and exchange expertise with all central banks to support monetary stability and financial stability on a global level.

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