26.09.18 Press Release

CBK Decides to Maintain the Discount Rate Unchanged at its Current Level of 3.0%

With the utmost keenness to reinforce the atmosphere conducive to non-inflationary economic growth of the non-oil sectors, and to maintain the attractiveness and competiveness of the national currency as a store for domestic savings, and taking into account the economic, monetary and banking data, the Board of Directors of the Central Bank of Kuwait (CBK) decided to maintain the discount rate unchanged at its current level of 3.0% and continue using the available monetary policy tools.

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24.09.18 Press Release

CBK ِAnnounces the Publication of the Financial Stability Report for the Year 2017

The Central Bank of Kuwait (CBK) announces the publication of the Financial Stability Report for the year 2017.

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23.09.18 Press Release

CBK Issues Instructions Regulating Electronic Payments

The Central Bank of Kuwait (CBK) had issued instructions to all service providers for regulating electronic payments.

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22.09.18 Press Release

CBK Announces the Launch of Kuwaiti Graduates Development Program (KGDP) - Eighth Batch

His Excellency the Governor of the Central Bank of Kuwait (CBK) and Chairman of Institute of Banking Studies, Dr. Mohammad Y. Al-Hashel, announced that the CBK has launched for the eighth year running a Kuwaiti Graduates Development Program (KGDP), a training and qualifying program for Kuwaiti nationals new graduates to work in the banking sector in collaboration with Kuwaiti banks and managed by the Institute of Banking Studies (KIBS).

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10.09.18 Press Statement

CBK ِAnnounces the Publication of the Economic Report for the Year 2017

The Central Bank of Kuwait (CBK) announces the publication of the Economic Report for the year 2017.

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08.09.18 Press Release

CBK Announces the Publication of the Annual Report for the Fiscal Year 2017/18

His Excellency, Dr. Mohammad Y. Al-Hashel, the Governor of the Central Bank of Kuwait (CBK), announced the release of the CBK’s Annual Report for FY2017/18.

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15.08.18 Press Release

CBK Instructions to Local Banks on Providing Free Text Messaging Services to Customers for all their Banking Transactions

His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Yousef Al-Hashel, stated that CBK has issued instructions to all Kuwaiti banks and branches of foreign banks operating in the State of Kuwait to provide free text messaging alert service to all their individual customers for all banking transactions executed on their accounts including card transactions of various types, and other electronic transactions, unless the customer requests to be contacted by other means such as e-mail or smart phone notification. The Governor added that banks are required to provide the electronic systems supporting such service so that it should be fully operational as of 16-09-2018.

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19.07.18 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the First Quarter of 2018

The Central Bank of Kuwait (CBK) published today the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for the first quarter of 2018 and the revised data of the fourth quarter of 2017. The aforesaid Data show that the Current Account surplus (summing up receipts and payments between domestic economy and other economies in terms of goods, services and income) recorded a surplus of KD 1,680 million during the first quarter of 2018 against a surplus of KD 1,158 million during the previous quarter, representing a hike of KD 521.8 million, i.e. 45.1%. The upturn in the current account surplus is due to the appreciation in the surplus of balance on goods and the depreciation in the surplus of primary income on one hand, and the increase in both services account deficit and secondary income deficit on the other. The surplus in the current account mainly reflects a surge in the surplus of the balance on goods (merchandise exports minus merchandise imports) to KD 3,350 million during the first quarter of 2018, compared to KD 2,291 million during the previous quarter. Furthermore, deficit in the Services Account (net value of services transactions between residents and non residents, the most important of which are transportation, travel, communications and construction) increased by KD 294.8 million or 17.8% to KD 1,954 million during the first quarter of 2018, compared to a deficit of KD 1,659 million during the previous quarter.

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13.06.18 Press Release

Based on Thorough Data Analysis, the CBK Maintains its Discount Rate at 3%

The Board of Directors of the Central Bank of Kuwait (CBK) has decided to keep the current discount rate at 3% to bolster conditions conducive to recovery of economic growth. The Bank is to continue utilizing monetary policy instruments and measures to enhance the attractiveness and the competitiveness of the national currency as a reliable, lucrative store for local savings. The decision to retain the current rate was result of continuous monitoring of developments and expected trends in economic, monetary and banking conditions and in interest rate trends on major currencies, mainly the US Dollar, and following a US Federal Reserve decision on 13 June, 2018 to increase interest rate on federal funds.

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08.05.18 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Year 2017

The Central Bank of Kuwait (CBK) published today (8-5-2018) the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for 2017 and the revised data of 2016.

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