31.03.22 Press Statement

CBK Issues a Special Report on its Measures through the Global Financial Crisis and Coronavirus Pandemic

The Central Bank of Kuwait (CBK) issued a special report titled “A Decade between Two Crises” to document its efforts and responses to the key shifts in global finance and the banking industry during 2010-2020, and its proactive approach in prudently reinforcing the resilience of the banking sector.

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28.03.22 Press Statement

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

International Monetary Fund (IMF) concludes 2021 Article IV consultation with the State of Kuwait.

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27.03.22 Press Release

CBK Concludes Public Consultation on E-Payment Instructions in Preparation for its Official Issuance

The Central Bank of Kuwait (CBK) concluded its public consultation on the draft updated instructions published on January 31, 2022. The instructions were updated to keep abreast of developments in Fintech and e-payments, introduce governing frameworks, enable Fintechs to offer value-added services, and supersede the 2018 instructions.

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23.03.22 Press Release

CBK Launches Second Cohort of the Risk Management Leaders Program

As part of the Central Bank of Kuwait’s efforts to support the Kuwaiti economy and develop national cadres through building capacity of staff in risk management, which has great importance in enhancing the banking environment and in fortifying financial operations, and within the Kafa’a initiative undertaken by the CBK in collaboration with Kuwaiti banks and managed by the Institute of Banking Studies (IBS), the second cohort of the Risk Management Leaders Program begins.

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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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