20.03.22 Press Release

CBK Assesses Kuwaiti Banks’ 2021 performance, Finds Strong Financial Soundness Indicators Despite Highly Stressed Operating Conditions

The Central Bank of Kuwait’s (CBK) Governor, Dr. Mohammad Y. Al-Hashel, stated that the 2021 financials of Kuwaiti banks underscore the resilience of the banking sector and its ability to withstand crises and serve the national economy efficiently without interruptions. The Governor stressed that this was evident in the Kuwaiti banking sector’s financial soundness indicators; Capital adequacy, liquidity, asset quality, and profitability, and supported by the positive results of the stress tests that CBK conducts on a regular basis.

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16.03.22 Press Release

CBK Raises Discount Rate by a Quarter Percentage Point

As part of the Central Bank of Kuwait’s (CBK) vigilant monitoring of domestic and international economic and geopolitical developments, and monetary policy trends in the global economies, and in light of the Federal Reserve’s decision passed in its meeting held on 15-16 March 2022 to raise the USD interest rate by 0.25%, the CBK Board of Directors decided to raise the discount rate by 0.25% from 1.50% to 1.75% effective March 17 2022. In addition, the CBK decided to change the rates of monetary policy instruments by varying percentages for the entire interest rate yield curve, up to the ten-year term. This includes repurchases (Repo), CBK bonds and tawarruq, term deposits, direct intervention instruments, as well as public debt instruments.

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13.03.22 Press Release

CBK Joins GCC Payments System (AFAQ)

The Central Bank of Kuwait (CBK) joined the GCC cross-border payment system (AFAQ) that connects Real Time Gross Settlement Systems (RTGSS) of GCC member states. The first phase of which had been launched by Gulf Payments Company (GPC) and aims to develop cross-border payments, enhance efficiency, provide cost-effective rates and reduce the reliance on external financial systems and networks.

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12.03.22 Press Release

CBK Receives Applications for Master's Degree Scholarship Program

Central Bank of Kuwait (CBK) Governor Dr. Mohammad Yousef Al-Hashel, Chairman of the Board of Directors of the Institute of Banking Studies, announced the start of receipt of applications for Master’s Degree scholarships for Kuwaitis, for the eighth year running, as CBK continues to support projects and initiatives aiming at national capacity building. Higher qualified national cadres would in turn contribute to institutional infrastructure in the State of Kuwait to support the country’s development, he stressed.

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08.03.22 Press Statement

CBK Marks International Women’s Day

The Central Bank of Kuwait (CBK) recognizes International Women’s Day on March 8, 2022, by celebrating CBK female staff’s excellence across its ranks.

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16.02.22 Press Statement

CBK Governor Receives Lord Gerry Grimstone, UK Minister for Investment

The Governor of the Central Bank of Kuwait (CBK) Dr. Mohammad Y. Al-Hashel received on Tuesday, 16 February 2022, the UK Minister of State (Minister for Investment) Lord Grimstone of Boscobel Kt, and an accompanying delegation, to discuss key global economic developments, and the post-pandemic global economic horizon.

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15.02.22 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Third Quarter of 2021

The Central Bank of Kuwait (CBK) published today the preliminary data of the State of Kuwait’s Balance of Payments (BoP) for Q3 2021, and the revised data of Q2 2021. The data revealed a surplus during Q3 2021 of KD 2,606.3 million in the Current Account (that sums up receipts and payments on transactions between the domestic economy and other economies in terms of goods, services and income) against a surplus of KD 3,262.3 million during the previous quarter, i.e. a decrease by 20.1% equivalent to KD 656.0 million. This drop is attributable to the rise in the value of receipts on the credit side of the Current Account by KD 385.8 million or 4.8% compared with the previous quarter, and the increase in the value of payments on the debit side of the Current Account by KD 1,041.8 million or 21.5% compared with the previous quarter.

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15.02.22 Press Release

CBK- KBA Launching Diraya Campaign for the Second Year

In light of the Central Bank of Kuwait’s mandate to increase the financial awareness of various segments of society, and strengthen the role of the Kuwaiti banking sector in social responsibility, the Central Bank of Kuwait (CBK) and Kuwait Banking Association (KBA) announce the launch of Diraya "Be Aware" Campaign for the second year in a row. The campaign activities are geared to spread financial awareness to a wider segment of society and increase public awareness of the banking sector’s role and how customers can use banks’ diverse services advantageously.

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14.02.22 Press Statement

CBK Receives the European Commissioner for Budget and Administration and his Accompanying Delegation

The Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, received the European Commissioner for Budget and Administration, Mr. Johannes Hahn and his accompanying delegation, in the presence of senior officials from the Ministry of Finance and the Kuwait Investment Authority. The attendees discussed the most prominent global economic developments and post-Covid19 prospects for the global economy, amongst other topics of mutual interest.

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08.02.22 Press Release

CBK Allows Banks to Distribute Semi-Annual Dividends

The Central Bank of Kuwait (CBK) allows banks to distribute semi-annual dividends.

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