Press Releases

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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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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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27.01.20 Press Statement

CBK Statement on The IMF Article IV Consultation for Year 2020

The Central Bank of Kuwait (CBK) press statement on the International Monetary Fund (IMF) mission to the State of Kuwait from January 7th through January 20th, 2020.

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14.01.20 Press Release

CBK Invited to Become a Member of the Bank of International Settlements

The Central Bank of Kuwait received an invitation today to become a member of the Bank of International Settlements (BIS). In a statement, His Excellency the Governor of the Central Bank of Kuwait Dr. Mohammad Y. Al-Hashel said, “We are very pleased with this announcement and the Central Bank of Kuwait has accepted the invitation and aims to become an effective member of this prestigious organization. The BIS underscores international cooperation between central banks and financial authorities around the world and works towards collectively pursuing global monetary and financial stability.”

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