Press Releases

Showing 10 of 13 Results

30.06.20 Press Statement

Reopening Protocols for CBK and Banking Sector

To ensure safe and orderly return of banks’ staff in the context of the current COVID-19 outbreak, CBK publishes its own "Return to Work" protocols, and oversees similar protocols for banks and their branches concurrently with the start of the Stage 2 of the phased return to work plan that kicks off on 30-6-2020.

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30.05.20 Press Statement

CBK Role in Anti-Money Laundering and Combating the Financing of Terrorism

Central Bank of Kuwait's role in anti-money laundering and combating the financing of terrorism

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10.05.20 Press Statement

Key Developments in the Balance of Payments of the State of Kuwait for the Year 2019

The Central Bank of Kuwait (CBK) published the preliminary data of the State of Kuwait’s Balance of Payments (BoP) for the year 2019 and the revised data of the year 2018, in addition to the preliminary data of the State of Kuwait’s (BoP) for Q4 2019 and the revised data of Q3 2019.

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02.04.20 Press Release

CBK Offers Regulatory Stimulus Package for Local Banks to Face Coronavirus Fallout

The Central Bank of Kuwait (CBK) announced today it has adjusted its regulatory instructions and macro prudential policy tools to empower the banks’ ability to perform their vital role, provide financing to productive economic sectors, and offer liquidity to help businesses continue operations. This aims to avoid turning a shortage in liquidity from turning into long-term solvency issues. These instructions are part of previous actions taken to support vital economic sectors and enterprises with added value to the local economy and to support people and small and medium enterprises and businesses who have been negatively affected by the current circumstances.

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16.03.20 Press Release

CBK Cuts its Discount Rate by 1% from 2.50% to 1.50%

The Central Bank of Kuwait’s Board of Directors has decided on 16 March 2020 to cut the discount rate 1% (from 2.5% to 1.5%) effective from 17 March 2020. This decision is part of the preventative measures the CBK has taken to contain the negative impact of the COVID-19 outbreak on the global and national economic growth, in addition to the steep decline in oil prices and its impact on Kuwait’s fiscal position, and the 15 March 2020 Federal Reserve decision to cut interest rates by 1%.

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12.03.20

CBK Assures Smooth and Safe Banking Operations

The Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced that banks were instructed to ensure uninterrupted access to financial services to serve customers and the national economy in light of precautionary efforts to curb the spread of Covid-19, and to maintain financial stability in the country.

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08.03.20

CBK Sets Up Fund to Support State Efforts Against Novel Coronavirus

The Central Bank of Kuwait (CBK) announced, Sunday March 8, 2020, the establishment of a KD 10 million fund that would support the State of Kuwait’s efforts to combat the spread of the novel Coronavirus, funded by Kuwaiti banks for that purpose. This comes as part of its national and social contributions amid the increasing spread of Coronavirus disease (COVID-19) globally.

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04.03.20

CBK Cuts its Discount Rate by a Quarter Percentage Point from 2.75% to 2.50%

In light of the uncertainty of global economic growth prospects, and the negative impact of the coronavirus outbreak on global economic activity and international trade and decrease in total demand rates and domestic product. In addition to the Fed’s decision, on March 3, 2020, to cut the interest rate 0.5 percentage points in the face of risks posed by coronavirus to economic activities.
The Central Bank of Kuwait Board of Directors decided today, on March 4, 2020, to lower the discount rate 0.25 percentage points (from 2.75% to 2.50%).

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18.02.20 Press Release

CBK Introduces Cyber Security Framework for the Kuwaiti Banking Sector

The Central Bank of Kuwait (CBK) announces the completion of a Strategic Cyber Security Framework for the Kuwaiti Banking Sector in the State of Kuwait.

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11.02.20 Press Release

CBK Emphasizes the Protection of the Banking and Financial System from the Risks of Money Laundering

The Central Bank of Kuwait (CBK) Emphasizes the Protection of the Banking and Financial System from the Risks of Money Laundering.

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