10.06.21 Press Statement

New “Diraya” Video Addresses Safe Investment

In an effort to enhance financial awareness across all segments of society and encourage the Kuwaiti banking sector’s social responsibility activities, the Central Bank of Kuwait is presenting new informative video content addressing safe investment and means of protecting customers’ personal and bank information. This comes as part of the CBK-supervised “Diraya” campaign (Be Aware in Arabic) which is managed by Kuwait Banking Association (KBA) with the participation of all Kuwaiti banks.

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24.05.21 Press Statement

Commemorative Coin Issue Marking the 40th Anniversary of the Cooperation Council for the Arab States of the Gulf (GCC)

This year marks the 40th anniversary of the establishment of the Gulf Cooperation Council (GCC). An initiative by the late Sheikh Jaber Al-Ahmad Al-Jaber Al-Sabah, may Allah have mercy on him, which aimed to strengthen coordination and integration between the member states. In order to document the GCC’s vital role and efforts towards stability and development in the region despite the geopolitical headwinds throughout the last four decades, and to honor the founding leaders and their roles in the Council’s success story, the Central Bank of Kuwait (CBK) issued a commemorative coin to celebrate this occasion.

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22.05.21 Press Statement

CBK Issues a Statement on Crypto-assets and their Risks

In an effort to enhance financial awareness and encourage the Kuwaiti banking sector’s social responsibility activities, the Central Bank of Kuwait is presenting information around the high risks of crypto-assets. This comes as part of the CBK-supervised “Diraya” campaign (Be Aware in Arabic) which is managed by Kuwait Banking Association (KBA) with the participation of all Kuwaiti banks.

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05.05.21 Press Statement

"Eidity" App Available to Customers for Eid Holiday

The Central Bank of Kuwait (CBK) has developed a second enhanced version of the Eidity application for gifting Eidia (monetary gift) during the upcoming Eid Al-Fitr season, in collaboration with Kuwaiti banks and the Shared Electronic Banking Co. (Knet).

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19.04.21 Press Statement

The Launch of the "Kafa'a" Initiative Website

The Central Bank of Kuwait (CBK) in collaboration with the Institute of Banking Studies (IBS) and Kuwaiti banks announced the launch of the official “Kafa’a” initiative website. The platform was established to share the training programs offered to develop and qualify national cadres specialized in finance and banking.

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15.04.21 Press Statement

International Monetary Fund Concludes 2021 Article IV Consultation with the State of Kuwait

The Central Bank of Kuwait (CBK) issued a press statement on the conclusion of the International Monetary Fund’s (IMF) Article IV Consultation to the State of Kuwait, held virtually from April 4-8, 2021. CBK, in coordination with IMF and the relevant national authorities, made the necessary arrangements including information and data compilation, and scheduling meetings with the senior officials of the government and non-government entities to discuss the economic, financial and monetary conditions and the resilience of the banking and financial sector. The concluding statement of the IMF mission commended CBK’s efforts in reinforcing the soundness and resilience of the banking and financial sector.

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14.04.21 Press Release

CBK Directs the Banking Sector to Nationalize the Leadership Positions in Banks

The Central Bank of Kuwait (CBK) directs the banking sector to nationalize the leadership positions in local banks.

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12.04.21 Press Release

Harvard Business School Presents a Virtual Program for Developing Banking and Financial Executives in Collaboration with IBS

Dr. Mohammad Yousef Al-Hashel, the Governor of the Central Bank of Kuwait and the Chairman of the Board of Directors of the Institute of Banking Studies (IBS), announced that IBS shall collaborate with Harvard Business School (HBS) to provide a virtual executive education program, designed specifically to support the development of senior leaders in the banking and finance sector in the GCC countries given the current challenges in particular the consequences of COVID-19 pandemic that affected the business world and the global economy. The program is designed to aid leaders in the banking and financial sector to adapt to the new work environment and achieve success in such difficult circumstances. Dr. Al-Hashel pointed out that the program shall provide online training classes - as part of the innovative new professional training methods - through Harvard Business School’s training platform.

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28.03.21 Press Statement

CBK Advises the Public on the Proper Handling of Banknotes

The Central Bank of Kuwait (CBK) stressed users must avoid damaging all denominations of the Kuwaiti Dinar banknote. The Dinar banknote is an important national symbol of the State of Kuwait that reflects its identity, history and legacy. Respectful handling of the bill is therefore tied to respecting this national symbol.

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17.03.21 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Third Quarter of 2020

The Central Bank of Kuwait (CBK) published today the preliminary data of the State of Kuwait’s Balance of Payments (BoP) for 3Q 2020, and the revised data of 2Q 2020. The data revealed a surplus during 3Q 2020 of KD 2,475.3 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 4,154.3 million during the previous quarter, i.e. a drop by 40.4% equivalent to KD 1,679.0 million. This downturn is attributable to the decline in the total value of receipts on the credit side of the Current Account by KD 328.3 million or 4.2% compared with the previous quarter, and the increase in the total value of payments on the debit side of the Current Account by KD 1,350.6 million or 36.7% compared with the previous quarter.

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