29.12.18 Press Release

CBK Announces Master's Degree Scholarship Program (MDSP) for the Fifth Year

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 fifth year running a Master’s Degree Scholarship Program (MDSP) in collaboration with Kuwaiti banks.

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22.12.18 Press Release

CBK Announces an Executive Education Program for Banking and Finance Executives with Harvard Business School for the Tenth Year in a Row

Dr. Mohammad Yousef Al-Hashel, Governor of the Central Bank of Kuwait, Chairman of the Board of Directors of the Institute of Banking Studies (IBS), announced that the IBS will work with Harvard Business School for the tenth year in a row to present an executive education program for banking and finance executives in the GCC region, during January 26 – 31, 2019.

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19.12.18 Press Release

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

The Central Bank of Kuwait (CBK) decided to maintain the discount rate unchanged at its current level of 3.0%.

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15.12.18 Press Release

CBK Governor Announces Launch of Second Round of Cyber Security Leaders Program (CSLP)

His Excellency the Governor of the Central Bank of Kuwait (CBK) and Chairman of the Institute of Banking Studies, Dr. Mohammad Y. Al-Hashel, announced the launch of the Second Cyber Security Leaders Program (CSLP). This comes within the Central Bank of Kuwait (CBK) strategy to develop national cadres in the field of banking, the national economy, and to build technical capabilities in information technology and information security, thus bolstering the financial and banking sector’s defenses against the risks of the accelerating developments in modern technology used in the sector’s information systems, ensuring that the latest technology is adopted with reduced risk.

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08.12.18 Press Release

CBK Governor Announces the Launch of "Kuwaiti Economic Researcher Award" and “Kuwaiti Economic Student Award”

His Excellency, the Governor of the Central Bank of Kuwait (CBK) and Chairman of Institute of Banking Studies, Dr. Mohammad Y. Al-Hashel, announced the launch of the “Kuwaiti Economic Researcher Award”, addressed to Kuwaiti researchers, and the “Kuwaiti Economic Student Award” addressed to undergraduate and postgraduate students aiming to promote scientific research in the economic and banking fields through motivating and encouraging national cadres to enhance their research competence according to high scientific standards in banking and finance fields. The Governor noted that the launch of this annual award by the CBK and Kuwaiti banks in collaboration with Kuwait Institute for Banking Studies (KIBS) is part of CBK’s and Kuwaiti banks’ strategic pursuit to uphold their social responsibility and entrench scientific methodology for addressing banking and finance issues. Ultimately, this would cultivate specialized and highly qualified national cadres in all aspects of the Kuwaiti banking and financial sector.

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02.12.18 Press Release

The Governor of the Central Bank of Kuwait meets Board Chairmen of Kuwaiti Banks

Within the framework of continuous meetings between the Central Bank of Kuwait (CBK) and the top management of Kuwaiti banks to discuss and exchange views on issues of mutual concern, His Excellency the CBK Governor, Dr. Mohammad Y. Al-Hashel, met with the board chairmen of Kuwaiti banks, at CBK Headquarters today. His Excellency welcomed the guests expressing his pleasure with this kind of communication and cooperation with the banks, and stressing on the importance of their fruitful participation. During this meeting, opinions were exchanged over the key economic and monetary developments at both local and international levels, as well as performance indicators of Kuwaiti banks, their plans and trends at this current stage. The Governor noted the strong financial positions and resilience of the banking sector represented in its financial integrity indicators in terms of Asset Quality, Capital Adequacy Ratio, Financial Leverage Ratio, and Liquidity Ratios, along with profitability ratios as bolstered by the continuous growth of banks’ profits.

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26.11.18 Press Release

CBK Issues Regulatory Sandbox Framework for FinTech

His Excellency, Dr. Mohammad Y. Al-Hashel, the Governor of the Central Bank of Kuwait (CBK), announced that CBK has issued Regulatory Sandbox Framework for FinTech.

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10.11.18 Press Release

CBK Issued Instructions Regarding the Rules & Regulations for Granting Personal Loans & Financing Facilities (Consumer/Housing) in Addition to Issuance of Credit Cards

His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, stated that within the framework of CBK’s routine revision of its issued regulations and rules in view of economic and banking developments related to the goals and consequences of these instructions, CBK had, in cooperation with an international consultancy company, reviewed and assessed its issued instructions regarding the rules and regulations for granting consumer and installment loans/ finance.

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09.10.18 Press Release

CBK-IIFM Seminar on Islamic Hedging, Liquidity Management and Sukuk Hosted by CBK

The Central Bank of Kuwait (CBK) is hosting a seminar in coordination with the International Islamic Financial Market (IIFM), on Islamic Hedging, Liquidity Management and Sukuk, on Wednesday, October 10, 2018.

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08.10.18 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Second 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 second quarter of 2018, and the revised data of the first quarter of 2018. The aforesaid data show that the Current Account (summing up receipts and payments between domestic economy and other economies in terms of goods, services and income) recorded a surplus of KD 2,878 million during the second quarter of 2018 against a surplus of KD 1,855 million during the previous quarter, representing a hike of KD 1,023.1 million, i.e. 55.2%. The upturn in the Current Account surplus is due to the appreciation in the surpluses of both Balance on Goods and Primary Income on one hand, and the increase in the deficit of Secondary Income, as well as the decrease in the deficit of Services Account 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 3,789 million during the second quarter of 2018, compared to KD 3,356 million during the previous quarter. Furthermore, the 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) decreased by KD 219.3 million or 10.0% to KD 1,969 million during the second quarter of 2018, compared to a deficit of KD 2,188 million during the previous quarter.

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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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06.05.18 Press Release

CBK Honors the Winner of "Kuwaiti Economic Researcher Award" 2017

His Excellency, the Governor of the Central Bank of Kuwait (CBK), Chairman of the Board of Directors of the Institute of Banking Studies (IBS), Dr. Mohammad Y. Al-Hashel, honors the winner of "Kuwaiti Economic Researcher Award" for the year 2017.

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30.04.18 Press Release

CBK-IFSB High-Level Conference to Tackle Key Macro Level Issues on Islamic Finance

The Central Bank of Kuwait (CBK) and the Islamic Financial Services Board (IFSB) are pleased to announce the agenda for the upcoming CBK-IFSB Islamic finance conference held on 2 May 2018, in Kuwait City, under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.

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16.04.18 Press Release

Top Level Experts to Speak at the CBK-IFSB Conference on Islamic Finance: A Universal Value Proposition

The Central Bank of Kuwait (CBK) and the Islamic Financial Services Board (IFSB) are pleased to announce the top-level speakers who will participate at the upcoming CBK-IFSB Islamic Finance Conference on May 2, in Kuwait City.

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05.04.18 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Fourth Quarter of 2017

The Central Bank of Kuwait (CBK) published today the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for the fourth quarter of 2017 and the revised data of the third quarter of the same year. The aforesaid data shows that the Current Account (summing up receipts and payments between domestic economy and other economies in terms of goods, services and income) recorded a surplus of KD 1,108 million against a surplus of KD 488 million during the comparative period, representing a hike of KD 620 million or 127.1%. 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 contraction in the services account deficit and the increase in the secondary income deficit on the other. The surplus in the current account mainly reflects a surge in the value of oil exports at a greater rate than that of value of merchandise imports resulting in increasing surplus of the balance on goods (merchandise exports minus merchandise imports) to KD 2,291 million during the last quarter of 2017 as compared to KD 1,748 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) fell by KD 348 million or 17.9% to KD 1,596 million during the fourth quarter of 2017, compared to a deficit of KD 1,944 million during the previous quarter.

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27.03.18 Press Release

CBK-IFSB Conference on Islamic Finance themed “Islamic Finance: A Universal Value Proposition”

The Central Bank of Kuwait (CBK) and the Islamic Financial Services Board (IFSB) are pleased to announce that they will be organizing a high-level global conference on Islamic finance. The conference will be held on the 2nd of May 2018 in the State of Kuwait in conjunction with the IFSB Annual Meetings 2018, hosted by the CBK.

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21.03.18 Press Release

CBK Raises Discount Rate by a Quarter Percentage Point to 3% From 2.75% Effective from 22-3-2018

His Excellency the Governor and Chairman of The Board of Directors of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced that CBK Board of Directors decided to raise the discount rate by a quarter percentage point to 3% from 2.75% effective from 22-3-2018.

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11.02.18 Press Release

CBK Issues a Circular Amending the Mechanism of Customer’s Complaints

Central Bank of Kuwait (CBK) issues a circular to CBK regulated entities regarding amending the mechanism of customer’s complaints.

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17.01.18 Press Statement

CBK and CMA signed a Memorandum of Understanding

In a joint statement, the Central Bank of Kuwait (CBK) and the Capital Markets Authority (CMA) announced that they have signed a co-ordination and co-operation Memorandum of Understanding (MOU).

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06.01.18 Press Release

CBK Announces Scholarship Program for Master Degree

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 fourth year running a Master’s Degree Scholarship Program (MDSP) in collaboration with Kuwaiti banks.

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