Central Bank of Kuwait: Press Releases

Showing 6 of 6 Results

07.11.06

Anti-Money Laundering and Combating the Financing of Terrorism Seminar

Anti-Money Laundering and Combating the Financing of Terrorism Seminar - 26-27 November, 2006. For further details

03.07.06

CBK Raises its Discount Rate to 6.25%

The CBK Board of Directors has decided to raise its discount rate by a quarter percentage point to 6.25% from 6%, effective from 3-7-2006, for the first time since the 2nd of November 2005. It is noted that during the period extending from that date to end of June 2006, the US Federal Reserve made five consecutive rises in its main policy interest rate, totaling 1.25 percentage points.

28.05.06

Press statement of H.E. the Governor of the Central Bank of Kuwait (CBK), Sheikh Salem Abdulaziz Al-Sabah, on the inclusion in CBK's periodic publications, of data and statistics on the investment companies subject to CBK's supervision

H.E. the Governor of the Central Bank of Kuwait (CBK), Sheikh Salem Abdulaziz Al-Sabah, announced in a press statement the expansion of the content of CBK's periodic statistical publications, to include aggregate financial data and statistics on both the conventional investment companies and investment companies operating according to the provisions of Islamic Sharia.

25.05.06

Provisional Balance of Payments Statistics of the State of Kuwait for Year 2005

The provisional Balance of Payments statistics of the State of Kuwait for 2005 which is prepared by the Central Bank of Kuwait (CBK) indicate an acceleration of the growth realized in the surplus of the 'Balance on Goods' (the arithmetical difference between the total value of merchandise exports and imports on 'fob' basis), by KD 3681 million (67.8%) to KD 9111 million during 2005, above its level of KD 5430 million during 2004.

11.05.06

CBK Changes KD Dollar Exchange Rate

H.E. the Governor of the Central Bank of Kuwait (CBK), Sheikh Salem Abdulaziz Al- Al-Sabah announced a rise in the exchange rate of the Kuwaiti dinar against the US dollar to 289.14 fils/dollar from 292 fils/dollar, as of 11-5-2006. H.E. the Governor explained that the decision reflects CBK's eagerness to preserve the purchasing power of the Kuwaiti dinar against the currencies of the trading partners of the State of Kuwait, thereby contributing to the containment of imported inflationary pressures. In this connection, H.E. the Governor noted the upward trend witnessed in the general levels of domestic prices, as expressed by the price indices prepared by the Ministry of Planning, mentioning that data on both the Consumer Price Index -a measure of the general cost of living- and the Wholesale Price Index, especially in regard to imported goods, showed a marked acceleration during 2005, which was owed in large part to the decline in the exchange rate of the US dollar against other major currencies; noting also that the Kuwaiti dinar is pegged to the US dollar within specified margins. In light of the above, the decision to raise the exchange rate of the Kuwaiti dinar against the US dollar aimed at enhancing the purchasing power of the KD against the other currencies, so as to curb the inflationary pressures resulting from the rise in the exchange rate of these currencies against the US dollar.

26.03.06

Registration of a Bank Branch (Citibank, N.A.) in the CBK Bank Register

H.E. Sheikh Salem Abdulaziz Al-Sabah, the Governor of the Central Bank of Kuwait (CBK), stated that on 22nd of March 2006, the Minister of Finance issued the Decision No. (2) regarding the registration of the (Citibank, N.A.) branch in the CBK Bank Register. Accordingly, the registration was made on that date.