CBK Affirms Women Empowerment in the Banking Sector
On the occasion of International Women’s Day celebrated annually on 08 March, and as part of the efforts to empower women and enable them to carry out their vital role in development, the Central Bank of Kuwait (CBK) affirmed its commitment to empowering women at all levels in line with the “New Kuwait 2035” Vision and the fifth goal of the United Nations’ 2030 Agenda for Sustainable Development, specifically gender equality and women empowerment.
In a special report issued by CBK marking International Women's Day, CBK highlighted its endeavors, since inception, to direct local banks towards strengthening women’s role by keeping pace with the latest global practices and international agreements that uphold women’s status in the banking sector. In 2015, CBK issued the Customer Protection Guide, the first principle of which stresses on gender equality among all customers. With regard to implementation of CBK’s instructions that directed banks to increase women presence in all units and on all levels of the banking sector, data show that women make up 35% of local banks’ staff. Moreover, statistical data, as of December 2022, indicate that women occupy 26% of the senior positions in the banking sector in Kuwait.
The report indicated that CBK is one of the leading institutions in the State of Kuwait in the field of women empowerment, and provides them with an enabling work environment and opportunities for advancement and invests in their future. This is demonstrated by the proportion of women in the CBK’s senior management that grew to 41% of the senior positions. In addition, the number of female staff reached 545, which accounts for 58% of CBK workforce.
CBK reaffirms its efforts to continuously empower women in the banking sector by directing banks and supervised entities towards empowering women, granting opportunities to national cadres, and supporting women to perform their roles, serve the country from all positions, and actively contribute to the development process.