06.10.23 Press Statement

CBK & Kuwait Institute of Banking Studies Honors the 3rd Cohort of the “Cybersecurity Leaders Program” Graduates

Under the patronage of the Governor of the Central Bank of Kuwait (CBK) and Chairman of the Institute of Banking Studies (IBS), IBS honored the graduates of the 3rd cohort of the “Cybersecurity Leaders Program” held from 16 July to 05 October 2023, as part of the strategic cooperation with SANS Academy (Cybersecurity Training Institute) and the Bank of International Settlements (BIS). This program is part of “Kafa’a” initiative launched by CBK in cooperation with Kuwaiti banks to develop and qualify national cadres through the management of the Kuwait Institute of Banking Studies since 2018.

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25.09.23 Press Statement

The Initiative to Launch CBK Purchasing Managers’ Index

As part of its efforts to achieve further progress in providing adequate information and data and making them available in due time to monitor the developments of the local economic activities, thus allowing policy makers and interested parties, e.g. investors or relevant international and global organizations, to observe the economic conditions and policies in a manner that fosters informed decision-making, the Central Bank of Kuwait (CBK) developed a questionnaire for the Purchasing Managers’ Index (PMI). The said index enables prompt data collection, processing and analyses to be produced in the form of timely and accurate periodic reports reflecting the real developments of the economic activity in the State of Kuwait.

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19.09.23 Press Statement

CBK’s Systems Remain Sound and Robust

The Central Bank of Kuwait’s (CBK) announces that its Systems Remain Sound and Robust.

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15.09.23 Press Statement

Fitch Ratings Affirms State of Kuwait Sovereign Credit Rating at (AA-); Outlook Stable

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10.09.23 Press Statement

The Fourth Edition (September 2023) a Glimpse into the Impact of Digital Transformation on Financial Stability

The Central Bank of Kuwait (CBK) releases the fourth edition (September 2023) which is one of the quarterly series the CBK has been issuing since November 2022, as part of the CBK’s ongoing efforts to keep abreast with the global trends of central banks in enhancing disclosure and transparency by covering some carefully selected economic, monetary and banking topics with the aim to raise awareness and highlight CBK’s efforts on the area of monetary and financial stability. The first part titled “The Impact of Digital Transformation on Financial Stability” of this fourth edition highlights the digital transformation in the Local and global banking industry, opportunities and advantages for the banking system, the significant challenges and risks, the role of central banks in mitigating financial stability risks, and the CBK’s efforts to foster digital transformation. The second part titled “The Foremost Global Developments and Monetary Policy Trends” provides a brief on the global developments and monetary policy trends of selected central banks, and the CBK’s monetary policy directions. This is the third issue in 2023.

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29.08.23 Press Statement

Additional Extension to Working Hours of the Real Time Gross Settlement System between Participants, and the Kuwait Electronic Cheques Clearing System

The Central Bank of Kuwait (CBK) announces additional extension of working hours of the Real Time Gross Settlement System (KASSIP) between participants, and the Kuwait Electronic Cheques Clearing System (KECCS).

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23.08.23 Press Statement

International Monetary Fund Concludes 2023 Article IV Consultation with the State of Kuwait

International Monetary Fund (IMF) concludes 2023 Article IV consultation with the State of Kuwait.

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26.07.23 Press Release

CBK Raises the Discount Rate by 25 Basis Points

As part of its efforts to maintain monetary and financial stability, enhance the economic growth of the various economic sectors, particularly the non-oil sectors, contain local inflationary pressures and maintain the competitiveness and attractiveness of the national currency as a lucrative store of domestic savings, and based on its continuous monitoring of the economic, monetary and banking developments, the Central Bank of Kuwait (CBK) decided to raise the discount rate by 0.25% from 4.0% to 4.25% effective July 27, 2023.

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05.06.23 Press Statement

IMF Concludes 2023 Article IV Consultation with the State of Kuwait

International Monetary Fund (IMF) concludes 2023 Article IV consultation with the State of Kuwait.

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16.05.23 Press Statement

CBK Issues New Instructions Regulating the Electronic Payments of Funds

In line with the Central Bank of Kuwait’s (CBK) strategy to maintain a strong advanced financial system and encourage emerging technologies in the field of electronic payment; and with the mandate granted by the Law No. 20 of 2014 on electronic transactions, which gave CBK the authority of oversight and regulation of the electronic payments of funds, and to issue binding instructions in this regard.

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