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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07.02.22 Press Statement

CBK Hosts US Department of Justice Workshop on Anti-Money Laundering

The Central Bank of Kuwait (CBK) held a joint virtual workshop with the United States Department of Justice titled “Effective Oversight of Financial Institutions to Combat Money Laundering and Terror Finance”. The workshop aims to strengthen the capacity of CBK staff and discuss emerging issues and growing risks in Anti-Money Laundering efforts and combating terror financing. Speakers from the US Department of Justice covered topics related to trends in illicit finance, virtual assets and compliance, and best international practices for regulators, CBK said in a press statement.

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06.02.22 Press Release

Harvard Business School Presents a Virtual Program for Developing Banking and Financial Executives in Collaboration with Kuwait Institute of Banking Studies

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 rapidly changing conditions. Dr. Al-Hashel pointed out that the program shall provide virtual training classes - as part of the innovative new professional training methods - through Harvard Business School’s training platform "Zoom".

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02.02.22 Press Release

CBK Governor Announces Digital Banks Guidelines

As tech-based business models are becoming increasingly vital within the banking and finance sector to support and enhance services offered to customers and contributing to overall economic growth, the Central Bank of Kuwait (CBK) has issued guidelines specifying requirements for establishing digital banks. This falls within CBK’s overall effort to utilize the latest advancements to bolster financial stability, encourage innovation, and meet future economic needs.

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01.02.22 Press Release

CBK Issues Draft of Updated E-Payment Instructions For Consultation

The Central Bank of Kuwait (CBK) has issued updated draft of e-payment instructions for public consultation. This effort aims to provide customers with services that add value, set judicious regulatory and supervisory frameworks, and keep abreast with advancements in financial technology and e-payment services.

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31.01.22 Press Release

The Highlights of the Virtual Event "Stability and Enablement" Held by CBK

The Central Bank of Kuwait (CBK) held a virtual event titled "Stability and Enablement", on 31 January 2022. The event is held out of CBK's keenness on fulfilling its mandate in bolstering monetary stability and financial stability, particularly in an increasingly complex environment with ever-growing risks. At the same time, CBK is embracing digitalization to modernize itself and enable the advancement of, drive innovation in, and leverage financial technologies in the financial sector.

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29.01.22 Press Release

CBK Holds a Virtual Event on Enabling Kuwait's Banking and Financial Sector

The Central Bank of Kuwait (CBK) will hold an event on 31 January 2022 to unveil the CBK’s enhanced capabilities in bolstering monetary stability and financial stability titled, “Stability and Enablement”. The presentation will highlight CBK’s efforts in enabling the digital advancement of the financial sector, driving innovation and leveraging FinTech in the financial sector.

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