31.12.19 Press Release

The State of Kuwait and the Kingdom of Saudi Arabia connect their points of sale via the GCCNET

The State of Kuwait and the Kingdom of Saudi Arabia connect their points of sale via the GCCNET.

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31.12.19 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Third Quarter of 2019

The Central Bank of Kuwait (CBK) published today the preliminary data of the State of Kuwait’s Balance of Payments (BoP) for 3Q 2019, and the revised data of 2Q 2019. The data revealed a surplus of KD 1,324.6 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) compared with a surplus of KD 2,816.9 million during the previous quarter, i.e. a drop by 53.0% equivalent to KD 1,492.4 million. This downturn is mainly attributable to the decline in the total value of receipts on the credit side of the Current Account by KD 2,249.2 million or 24.3% compared with the previous quarter, and the decrease in the total value of payments on the debit side of the Current Account by KD 756.8 million or 11.8% compared with the previous quarter. Furthermore, preliminary data indicated a drop in the surplus of the Balance on Goods by KD 442.1 million or 14.7% to reach KD 2,575.5 million during the third quarter of 2019, compared with KD 3,017.7 million during the previous quarter.

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22.12.19 Press Release

CBK Announces an Updated Executives Education Program for Banking and Finance Executives with Harvard Business School for the 11th Year in a Row

Dr. Mohammad Y. Al-Hashel, Governor of the Central Bank of Kuwait, Chairman of the Board of Directors of the Institute of Banking Studies (IBS), announced that IBS will again work with Harvard Business School (HBS) to present a special and updated executive education program for banking and financial executives in the GCC region. Many aspects of the program have been restructured to reflect the latest trends in the evolving banking and financial services sector.

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17.12.19 Press Statement

CBK Holds a Meeting with the Banking and Academic Sectors

The Central Bank of Kuwait (CBK) held a meeting with decision makers and experts in the banking and academic sectors on Monday, 16 December 2019.

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16.12.19 Press Release

CBK Issues a Commemorative Coin to Mark the 5th Anniversary of H.H. The Amir Being Named “A Humanitarian Leader” for the Year 2014

In celebration of the 5th anniversary of His Highness the Amir, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah being named “A Humanitarian Leader” by the United Nations for the year 2014, His Excellency, Dr. Mohammed Y. Al-Hashel, Governor of the Central Bank of Kuwait stated that a commemorative coin has been issued by the Central Bank of Kuwait marking the occasion.

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15.12.19 Press Release

CBK Announces Master's Degree Scholarship Program (MDSP) for the Sixth 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 sixth year running a Master’s Degree Scholarship Program (MDSP) in collaboration with Kuwaiti banks.

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11.12.19 Press Statement

CBK Governor Keynote Speaker of 14th High Level Meeting for the Middle East & North Africa Region

CBK Governor Keynote Speaker of 14th High Level Meeting for the Middle East & North Africa Region Region, jointly organized by the Basel Committee on Banking Supervision, the Financial Stability Institute and the Arab Monetary Fund, on December 11, 2019 in Abu Dhabi, UAE.

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10.12.19 Press Statement

CBK Develops Statistical Work

The Central Bank of Kuwait (CBK) has published today data on the International Investment Position and Total External Debt of the State of Kuwait in its quarterly statistical bulletin starting from Q1 (January-March) 2019. In line with the international best practices, CBK continuously strives to enhance statistical work through the development of statistical databases and provision of integrated and comprehensive data in terms of coverage, periodicity, timeliness, and quality. The newly introduced tables namely (44) and (44-1) & (46) and (46-1) reinforce principles of disclosures and transparency by including the State of Kuwait’s International Investment Position and Total External Debt, respectively, on an annual and quarterly basis.

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09.12.19 Workshop

CBK Holds a Workshop on Information & Cyber Security

The Central Bank of Kuwait (CBK) hosted a workshop on information and cyber security on December 9, 2019 presented by Mr. Ross Knapp, J.P. Morgan's Head of Client Intelligence & Strategic Engagement and was attended by professionals in the Kuwaiti banking sector.

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08.12.19 Press Statement

CBK Governor Patron and Keynote Speaker of the 8th Shura Fiqh Conference

His Excellency the Governor of the Central Bank of Kuwait (CBK) Dr. Mohammad Y. Al-Hashel delivered a keynote address at the 8th Shura Fiqh Conference on 8th December 2019 at the Four Seasons Hotel, Kuwait. The event took place under the Governor’s patronage.

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10.11.19 Press Release

CBK Unveils Liquidity Management and Forecasting Dashboard

His Excellency the Governor of the Central Bank of Kuwait (CBK) Dr. Mohammad Y. Al-Hashel announced CBK’s live and consolidated “Liquidity Management and Forecasting Dashboard”, which enhances the ability to forecast liquidity conditions more accurately and at an earlier point in time, in turn leading to more efficient utilization of monetary policy instruments.

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06.11.19 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Second Quarter of 2019

The Central Bank of Kuwait (CBK) published today the preliminary data of the State of Kuwait’s Balance of Payments (BoP) for the 2nd quarter of 2019, and the revised data of the preceding quarter.

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03.11.19 Press Release

CBK Launches the Second Round of “Certified Sharia Auditor” Program in Collaboration with IBS

His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced the second round of the “Certified Sharia Auditor” program in collaboration with the Institute of Banking Studies (IBS).

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30.10.19

CBK Cuts its Discount Rate by a Quarter Percentage Point from 3.00% to 2.75%

In light of the Central Bank of Kuwait’s (CBK) mandate to maintain monetary and financial stability, the Board of Directors decided today to lower the discount rate from 3.0% to 2.75%. The decision fulfils the dual objectives of promoting non-inflationary economic growth conditions in non-oil sectors, and ensuring the continued attractiveness and the competitiveness of the national currency as a reliable store of domestic savings, both of which are mainstays of monetary policy.

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21.10.19 Press Release

CBK Announces the Launch of Risk Management Leadership Program

The Central Bank of Kuwait (CBK) has announced the launch of the Risk Management Leadership Program, the program falls within the “Kafa’a” capacity-building initiative developed in cooperation with Kuwaiti banks and under the Institute of Banking Studies (IBS) management.

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08.10.19 Press Release

CBK's Decision on KFH Request to Acquire Ahli United Bank - Bahrain

The Central Bank of Kuwait (CBK) grants conditional approval on Kuwait Finance House (KFH) request to acquire Ahli United Bank - Bahrain.

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06.10.19 Press Release

CBK is Hosting a Workshop Held by the Gulf Monetary Council on Liquidity Forecasting and Management

The Gulf Monetary Council is, in cooperation with the Central Bank of Kuwait (CBK), holding the "Liquidity Forecasting and Management" workshop in Kuwait City on 6-7 October 2019. The workshop aims to increase GCC capacity building, knowledge transfer and shared experiences from leading institutions.

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02.10.19

CBK Announces the Launch of Kuwait Graduate Development Program - Ninth Batch

The Central Bank of Kuwait (CBK) has announced the launch of the Kuwait Graduate Development Program (KGDP) – ninth batch. The program aims to train and qualify Kuwaiti graduates to work in the banking sector and falls within the “Kafa’a” capacity-building initiative developed in cooperation with Kuwaiti banks and under the Institute of Banking Studies (IBS) management. The CBK has started the process of receiving applications to join the program, and approved applicants would benefit from theoretical as well as hands-on training lasting a whole year in cooperation with Kuwaiti banks and prestigious international banking institutions.

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29.09.19

CBK Launches its "Kafa’a" Initiative for Developing Kuwaiti Nationals in Cooperation with Kuwaiti Banks & IBS

His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al- Hashel announced the launch of a new initiative titled “Kafa’a” (Arabic for competence), in cooperation with Kuwaiti Banks & the Institute of Banking Studies (IBS) entailing a comprehensive vision for capacity building among Kuwaiti nationals in banking, financial, and economic sectors. The announcement was made during the governor’s keynote address at the International Banking Conference: Shaping the Future, organized by the CBK on 23 September 2019.

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19.09.19

More than Forty Five Participants in the Fintech Exhibition Accompanying the CBK International Banking Conference in Kuwait

Held under the patronage of His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Central Bank of Kuwait (CBK) will host “the International Banking Conference: Shaping the Future” on Monday, September 23, 2019 at the Four Seasons Hotel. More than forty five participant including over 25 fintechs will showcase their capabilities at the exhibition accompanying the conference. The exhibition is officially sponsored by Zain. 
As well as welcoming top executives and officials from mainstream banking, the conference will provide delegates with an opportunity to learn first-hand about the fintech innovations that are reshaping financial services in the region.

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18.09.19

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

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

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12.09.19

The Governor of CBK and Chairman of the Institute of Banking Studies Concludes "Women & Leadership in Global Business" Program

His Excellency the Governor of the Central Bank of Kuwait (CBK) and Chairman of the Institute of Banking Studies, Dr. Mohammad Y. Al-Hashel, concluded the program “Women & Leadership in Global Business”, held for the first time in Kuwait in collaboration with the London School of Economics and Political Science (LSE).

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10.09.19

CBK Amends the Rules and Regulations of Corporate Governance in Kuwaiti Banks

The Board of Directors of the Central Bank of Kuwait approved in its session held on 10-9-2019 amendments to the rules and regulations of corporate governance in Kuwaiti banks adding independent directors to the composition of the banks’ boards of directors and the board committees.

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05.09.19

Kuwait’s Banks Unveiled as Partners for Major International Banking Event

Local banks have been confirmed as partners for the Central Bank of Kuwait’s CBK International Banking Conference on September 23. 
The event, which will be held under the patronage of His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmad Al-Jabir Al-Sabah, will host a line-up of speakers including key policymakers, banking industry executives, economists and FinTech experts from across the globe.

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19.08.19 Press Release

Top Banking Executives and Policymakers Confirmed as Speakers at the "International Banking Conference: Shaping the Future"

Banking industry leaders are among the many top-level executives and officials confirmed as speakers for the CBK International Banking Conference, which will be held on Monday, September 23 at the Four Seasons Hotel. 
Held under the patronage of His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmad Al-Jabir Al-Sabah, the event will bring together decision makers and thought leaders from across the global financial services sector.

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05.08.19 Press Release

CBK Hosts the Inaugural International Banking Conference: "Shaping the Future"

Held under the patronage of His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmad Al-Jabir Al-Sabah, the Central Bank of Kuwait (CBK) will stage the inaugural CBK International Banking Conference on Monday, September 23, 2019. 
Titled Shaping the Future, the event’s speakers will include key policymakers, C-level banking industry executives, banking experts and FinTech entrepreneurs from across the globe.

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31.07.19 Press Release

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

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

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30.07.19 Press Statement

CBK Announces the Publication of the Annual Report for the FY2018/19 and the Economic Report 2018

His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced the publication of CBK’s 47th Annual Report for the Fiscal Year (FY) 2018/19 and 47th Economic Report for the year 2018 in addition to “Highlights on the Economic Report”. The Annual Report contains CBK’s Financial Statements for the FY ended 31 March 2019. The report also comprises the key developments in the main monetary aggregates and banking indicators, along with the supervisory and regulatory efforts and the major banking operations and key tasks performed by CBK to enhance staff performance and upgrade IT infrastructure during said year. Meanwhile, the Economic Report contains the latest available data and statistics on various aspects of the economic performance of the State of Kuwait in 2018 and is composed of six major parts, each dedicated to a key topic.

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28.07.19 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the First Quarter of 2019

The Central Bank of Kuwait (CBK) published today the preliminary data of the State of Kuwait’s Balance of Payments (BoP) for the 1st quarter of 2019, and the revised data of the preceding quarter.

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24.07.19 Press Release

CBK ِAnnounces the Publication of the Financial Stability Report for the Year 2018

The Central Bank of Kuwait (CBK) announces the publication of the Financial Stability Report for the year 2018.

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16.07.19 Press Statement

CBK Enhances Statistical Work

In continuation of the Central Bank of Kuwait (CBK) efforts to enhance statistical work through the development of statistical databases and provision of comprehensive data in terms of coverage, periodicity, timeliness, and quality, and in line with international best practices in this regard, CBK is introducing Table No.26 into its monthly statistical bulletin. The table includes data on the Official Reserve Assets of Kuwait on a monthly basis and shall be included in the said bulletin as of March 2019.

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07.07.19 Press Statement

CBK and MOCI sign a Memorandum of Understanding

The Central Bank of Kuwait (CBK) announced that it had signed a Memorandum of Understanding (MoU) with the Ministry of Commerce and Industry on July 2nd, 2019. The MoU concerns coordination and cooperation on determining each party’s scope of competence when it comes to supervising and regulating some activities of CBK-regulated entities.

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02.05.19 Press Release

CBK Honors the Winners of "Kuwaiti Economic Researcher Award" and "Kuwaiti Economic Student Award" 2018

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 winners of "Kuwaiti Economic Researcher Award" and "Kuwaiti Economic Student Award" 2018.

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01.05.19 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Fourth Quarter of 2018

The Central Bank of Kuwait (CBK) published today the preliminary data of the State of Kuwait’s Balance of Payments (BoP) for 4Q 2018, and the revised data of the preceding quarter. The data revealed a surplus of KD 1,643 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) compared to a surplus of KD 923 million during the previous quarter, i.e. an upturn by 77.9% equivalent to KD 719.4 million. This upturn in the Current Account surplus is mainly attributable to the decline in the deficit of the Services Account (net value of services transactions between residents and non residents, the most important of which are transportation, travel, communications and construction) by KD 1,164 million or 39.6%, to KD 1,778 million during 4Q 2018, compared to a deficit of KD 2,942 million during the previous quarter.

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24.04.19 Press Release

CBK Organizes Workshop for Ministry of Justice Accounting Experts

The Governor of the Central Bank of Kuwait (CBK), His Excellency Dr. Mohammad Y. Al-Hashel, announced that CBK had concluded a workshop for Accounting Experts from the Ministry of Justice “General Directorate of Experts”, held 16-24 April, 2019 on the topic of CBK policies, regulations, and instructions.

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23.03.19 Press Release

CBK Hosting IMF Panel Discussion on Banking Supervision & Oversight

The Central Bank of Kuwait (CBK) is hosting a high-level panel discussion organized by the International Monetary Fund (IMF) Middle East Center for Economics and Finance (CEF) on banking supervision and oversight.

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03.03.19 Press Release

CBK Launches “Certified Sharia Auditor” Program in Collaboration with IBS

His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced that CBK has launched “Certified Sharia Auditor” program in collaboration with Institute of Banking Studies (IBS).

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03.02.19 Press Release

CBK Launches Electronic Banking Services System (EBSS)

His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced that CBK has launched Electronic Banking Services System (EBSS).

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10.01.19 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Third Quarter of 2018

The Central Bank of Kuwait (CBK) published today the preliminary data of the State of Kuwait’s Balance of Payments (BoP) for 3Q 2018, and the revised data of the preceding quarter. The data revealed a surplus of KD 2,155 million in the Current Account (that sums up receipts and payments between domestic economy and other economies in terms of goods, services and income) compared to a surplus of KD 2,648 million during the previous quarter, i.e. a downturn of KD 492.5 million (18.6%). This downturn is attributable to the decline in the surpluses of both Balance on Goods and Primary Income and in the deficit of Secondary Income on one hand, and the increasing deficit of Services Account on the other. In more detail, the decline in the Current Account surplus reflects a commensurate decline in the surplus of the Balance on Goods (merchandise exports minus merchandise imports) to KD 3,471 million during 3Q 2018, compared to KD 3,789 million during the preceding quarter. On the other side, 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) increased by KD 45.6 million or 2.3%, to KD 2,037 million during 3Q 2018, compared to a deficit of KD 1,991 million during the previous quarter.

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