24.12.23 Press Statement

Kuwait Clearing Company joins Real Time Gross Settlement System (KASSIP)

The Central Bank of Kuwait (CBK) announced that Kuwait Clearing Company (KCC) has now joined the Real Time Gross Settlement System (KASSIP), effective Sunday 24/12/2023 upon completion of automated linking and passing the technical tests. The system would thereby execute final settlements for financial transactions conducted through Maqasa company. This step was made possible through cooperation on the part of the CBK, Capital Markets Authority, and KCC.

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24.12.23 Press Release

CBK Opens Applications for the 12th Round of KGDP for Graduates Seeking Banking Career

Under the Kafa’a initiative launched by the Central Bank of Kuwait (CBK) in cooperation with Kuwaiti banks and managed by the Institute of Banking Studies (KIBS), and within CBK’s strategic vision aiming at national capacity building to support the country’s development, the KIBS will be receiving applications for the twelfth round of the Kuwaiti Graduates Development Program (KGDP) for a career in the banking sector. Applications to the program will be accepted from 24 December 2023 until 1 February 2024. This program provides new graduates with the opportunity to train in the banking field, and aims to build their skills through theoretical and field training over a year at Kuwaiti banks and at prestigious international institutions. The program also provides participants with the opportunity to gain practical and professional experience, to provide the banking sector with highly qualified young national talents.

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16.12.23 Announcement

CBK Mourns the Sad Demise of Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah Amir of the State of Kuwait

The Central Bank of Kuwait (CBK) mourns the sad demise of Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, The Amir of the State of Kuwait.
And in observance of the decision of the Council of Ministers, CBK will be closed for three business days, resuming work on Wednesday, 20th of December 2023.

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12.12.23 Press Statement

Extending the Working Hours of the Real Time Gross Settlement System ( KASSIP) between Participants

As part of its efforts to develop the banking sector and improve its banking services to raise the efficiency of payment systems as being a main anchor in maintaining monetary and financial stability in the State of Kuwait, and in light of the roles and responsibilities entrusted to CBK to develop payment systems and ensure the soundness and security of financial transactions. The Central Bank of Kuwait (CBK), the operator and regulator of the national payment systems’ infrastructure, issued a circular to all local banks on 06/12/2023 extending the working hours for the Real Time Gross Settlement System (KASSIP). As such, the working hours shall start from 7 am to 5:15 pm instead of 4:15 pm starting Tuesday 12/12/2023. This decision is made with the aim of enhancing the quality of financial services provided to the public in a manner that meets the needs of several segments of the society, as well as to serve all sectors of the national economy.

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03.12.23 Press Statement

CBK's 51st Annual Report (2022/2023)

The Central Bank of Kuwait (CBK) released its 51st edition of the Annual Report for the Fiscal Year 2022/23 including the foremost monetary and banking developments, as well as the CBK’s efforts to maintain the monetary and financial stability. The report contains the auditors’ report on the Bank’s financial statements as of 31 March 2023.

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03.12.23 Press Statement

CBK Giving Special Attention to People with Disabilities

As part of its’ endeavors to enhance financial inclusion, the Central Bank of Kuwait (CBK) continues to devote its attention towards the banking sector’s special needs customers and provide them with banking and financial services that align with their needs through its supervisory instructions to Kuwaiti banks, and its continuous monitoring of the services provided to this particular segment.

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26.11.23 Press Statement

CBK Launches the Third Cohort of the "Risk Management Leaders Program"

As part of the Central Bank of Kuwait’s (CBK) strategic endeavor to build highly qualified national cadres in various financial and banking fields, and develop risk management capabilities, which has great importance in enhancing the banking environment and in fortifying financial operations, the Governor of the Central Bank of Kuwait and Chairman of the Board of Directors of the Institute of Banking Studies (IBS) Basel A. Al-Haroon, launched the third cohort of the Risk Management Leaders Program, within the Kafa’a initiative undertaken by the CBK in collaboration with Kuwaiti banks and managed by the Institute of Banking Studies (IBS).

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19.11.23 Press Statement

CBK Launches the Fifth Round of the "Certified Shari’ah Auditor" Certificate Program

The Governor of the Central Bank of Kuwait and Chairman of the Board of Directors of the Institute of Banking Studies, Basel A. Al-Haroon, announced the launch of the fifth round of the Certified Shari’a Auditor Certificate Program. The program aims at enhancing the governance of Shari’a supervision in the Islamic banks in Kuwait and reinforcing Shari’a auditing in such banks. The program was launched as part of the Kafa’a initiative by CBK in collaboration with Kuwaiti banks and is managed by the Kuwait Institute of Banking Studies (KIBS).

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16.11.23 Press Release

CBK Announces the 15th Session of Harvard Business School (HBS) Program for Banking and Financial Executives

The Governor of the Central Bank of Kuwait (CBK) and Chairman of the Board of Directors of the Institute of Banking Studies (KIBS), Basel A. Al-Haroon, announced that KIBS will present the fifteenth cohort of the Harvard Business School Program, designed to develop executives in GCC banks and financial institutions, in light of the changes in the business world, and the needs of the banking and financial sectors.

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09.11.23 Press Statement

CBK Governor Honors the Winners of "2022 Kuwaiti Economic Student Award" and Announces the Launch of "2023 Kuwaiti Economic Student Award"

The Central Bank of Kuwait (CBK) held a ceremony to honor the winners of the “Kuwaiti Economic Student Award”. The CBK Governor and Chairman of the Institute of Banking Studies (IBS), Basel Ahmed Al-Haroon, and a host of elite banking sector figures attended the event on Thursday, November 9, 2023, at CBK Headquarters.

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