Press Releases

As part of the Central Bank of Kuwait’s commitment to fostering innovation, and in recognition of the vital role played by its Innovation Hub “Wolooj” in driving progress in artificial intelligence, digital transformation, cybersecurity, financial technology, and regulatory and supervisory technologies, by providing an interactive environment for the development and testing of innovative products and services.

The Governor of the Central Bank of Kuwait, Basel Ahmed Al-Haroon, announced that the Bank, through the “Wolooj” Innovation Hub, has developed an innovative technology for generating cryptographic keys — marking a major leap in data protection and information security.

The Central Bank explained that this technology reflects the Bank’s commitment to creating a secure digital environment that supports advanced technologies. It relies on generating randomness from unconventional data sources that are highly complex and difficult to predict. This data is then processed and transformed into digital streams used to extract randomness, which is subsequently combined with other secure randomness sources generated by the operating system. The result is the creation of strong, unpredictable encryption keys that balance traditional and non-traditional randomness, thereby enhancing the security of digital systems across various domains.

The Governor concluded his statement by noting that this achievement was made possible by the dedicated efforts of national talent from within the Central Bank of Kuwait staff, as part of the Bank’s institutional innovation framework. The system has been officially registered as intellectual property with the relevant authorities, reaffirming the Central Bank’s position as a leading institution in supporting digital transformation and fostering a secure and dynamic environment for development and innovation.