Press Releases
11.11.12
The 50th Anniversary of the Enactment of the State of Kuwait's Constitution
The State of Kuwait celebrates the Fiftieth Anniversary "Golden Jubilee" of the enactment and issuance of the State of Kuwait's Constitution, by His Highness the late Shiekh Abdullah Al-Salem Al-Sabah, the Amir of the State of Kuwait. This occasion embodies the profound principles of democracy and public participation in decision -making through generations and is considered an important culturel gain for the State of Kuwait. Under this Constitution, the State of Kuwait has been able to march steadily towards establishing the rule of law and order, and build its foundations on well-established rules ensuring the glory and improvement for the country and its citizens.
More01.11.12 Announcement
Gulf Monetary Council (GMCO)
Within its efforts toward building its executive body to pursue the achievement of its goals, the Gulf Monetary Council (GMCO) initiated through its website (en.gmco.int) a recruitment campaign for qualified citizens of its member states. This represents another step by the Board of Directors of GMCO toward building the institutional and administrative setup of GMCO. Recently the Board announced the appointment of Dr. Khalid M. Al Saad as Chief Executive of GMCO.
More03.10.12 Press Statement
CBK Cuts its Discount Rate by 50 Basis Points to 2%
The Governor of the Central Bank of Kuwait (CBK) Dr. Mohammad Yousif Al-Hashel announced that after due follow-up of the developments in the economic, monetary and banking situations domestically and globally the Board of Directors of CBK has decided to cut the CBK Discount rate by 50 basis points from 2.50% to 2% effective 4-10-2012.
More06.09.12
CBK 2011/2012 Annual Report Published
The Central Bank of Kuwait (CBK) has just published its Annual Report for Fiscal Year (FY) 2011/12. The Annual Report includes the CBK Balance Sheet and Profit and Loss Account for the FY ending 31st March 2012 and the Auditors' Report. It also includes a brief overview of the most salient monetary policy developments and monetary and banking indicators for the mentioned fiscal year in the areas of money supply, local interest rates, KD exchange rates, bank credit, aggregate balance sheet of local banks and aggregate balance sheet of local investment companies, as well as the most important supervisory measures and instructions issued by CBK and the banking operations it has performed during FY 2011/12. Also the CBK Annual Report includes a brief on CBK's efforts towards developing and modernizing the infrastructure and the information technology it utilizes, as well as its endeavors to enhance and develop its manpower. The report is available in both English and Arabic
More24.07.12
Fitch Affirms Kuwait at 'AA', Outlook Stable
On July 24, 2012 Fitch Ratings has affirmed Kuwait's Long-term foreign and local currency Issuer Default Ratings at 'AA'. The Outlook on the Long-term ratings is Stable. Fitch Press Release of July 24, 2012 as well as a summary in Arabic may be viewed by clicking here
More15.05.12
International Monetary Fund 2012 Article IV Consultation -Concluding Statement
An International Monetary Fund (IMF) mission visited Kuwait during April 18 - April 30, 2012 and held discussions with local authorities for the 2012 regular Article IV consultation. The Concluding Statement of that mission as well as a summary in Arabic may be viewed by clicking here
More03.05.12
New Deputy Governor for the Central Bank of Kuwait
A Decree by H.H. the Amir was issued on the 3rd of May, 2012 appointing Mr. Yousef J. Alobaid as Deputy Governor of the Central Bank of Kuwait (CBK). According to Law No. 32 of the year 1968 concerning Currency, the Central Bank of Kuwait and the Organisation of Banking Business, the Deputy Governor of CBK is also a member of its Board of Directors and serves for a 5-year renewable term.
More24.04.12
Main Developments in the Balance of Payments of the State of Kuwait for the Year 2011
The Central Bank of Kuwait (CBK) released today the provisional figures for the Balance of Payments (BOP) of the State of Kuwait for 2011 and revised data for 2009 and 2010. Provisional BOP figures for 2011 show significant rise in the surpluses realized in the main external balances during that year, compared to 2010. The surplus realized in the Current Account (which reflects the outcome of transactions between the domestic economy and other economies involving goods, services, Primary Income "investment income", and Secondary Income "current transfers") increased by 78%to reach KD 19531 million during 2011 (or 54.8% of 2010 GDP), compared with KD 10975 million during 2010 (or 30.8% of 2010 GDP). That increase in the Current Account surplus was mainly an outcome of the rise in the Surplus of the Balance on Goods (merchandise exports minus merchandise imports on f.o.b. basis) by about 66.7%, from KD 13632 million during 2010 to KD 22722 million during 2011.
More02.04.12
New Governor for the Central Bank of Kuwait
A Decree by H.H. the Amir was issued on the 1st of April, 2012 appointing Dr. Mohammad Y. Al-Hashel as Governor of the Central Bank of Kuwait (CBK) with a rank of Minister. According to Law No. 32 of the year 1968 concerning Currency, the Central Bank of Kuwait and the Organisation of Banking Business the Governor of CBK is also the Chairman of its Board of Directors and serves for a 5-year renewable term.
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