Press Releases
20.12.15 Press Release
CBK Celebrates the Anniversary of H.H. The Amir Being Named “2014 A Humanitarian Leader” by Issuing Commemorative Coins Marking the Occasion
In celebration of the anniversary of His Highness the Amir, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah being named “2014 A Humanitarian Leader” by the United Nations, His Excellency, Dr. Mohammed Y. Al-Hashel, Governor of the Central Bank of Kuwait stated that commemorative coins had been issued by the Central Bank of Kuwait marking the occasion.
More16.12.15 Press Release
CBK Raises Discount Rate by a Quarter Percentage Point to 2.25%
The Board of Directors of the Central Bank of Kuwait (CBK) decided to raise the Discount Rate by a quarter percentage point to 2.25% from 2%. His Excellency, the Governor and Chairman of the CBK Board of Directors, Dr. Mohammad Y. Al-Hashel, announced in a press statement to Kuwait News Agency (KUNA) that CBK decision to raise the discount rate comes into effect from Thursday, 17/12/2015, and reflects CBK efforts to ensure competitiveness and attractiveness of the national currency as a store of domestic savings, and to further strengthen the supporting environment for all the sectors of the national economy. The Governor further explained that the Discount Rate in the State of Kuwait, which is set by CBK, is used to determine maximum interest rates on KD borrowing transactions at local banks and, accordingly, raising the discount rate ensures competitiveness and attractiveness of the national currency as a store of domestic savings and higher returns for KD depends compared to other major currencies, particularly in light of the announcement by US Federal Reserve to raise the federal funds target rate, as a first step to revert to traditional monetary policies after a long period of time implementing exceptional policies knows as “Quantitative Easing”.
More25.10.15 Press Release
CBK Releases Guidelines for Net Stable Funding Ratio (NSFR)
His Excellency, The Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Yousef Al-Hashel announced the issuance of the Net Stable Funding Ratio (NSFR) guidelines for conventional and Islamic banks.
More13.07.15 Press Release
CBK Announces the Publication of the Financial Stability Report for 2014
His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced the publication of the Financial Stability Report (FSR) for 2014 - the third in a series of reports published by CBK as part of its efforts to enhance transparency and to make available reliable information and statistics related to the Kuwaiti banking system and financial sectors.
More13.07.15 Press Release
CBK Announces the Release of Annual Report for the Fiscal Year 2014/15
His Excellency, the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced the release of the Annual Report of the CBK for the fiscal year (FY) 2014/15. The Governor clarified that this 43rd issue of the series of Annual Reports prepared and published by the CBK contains the CBK Balance Sheet, the Profit & Loss Account for FY ending 31st March 2015, in addition to the Auditors' Report on the financial statements.
More05.07.15 Press Release
CBK Amends Principles and Rules of Consumer & Installment Loans, Issues Consumer Protection Guide and Instructions to Banks Regarding Services Provided to Special Needs Customers.
His Excellency, The Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Yousef Al-Hashel announced the issuance of three important instructions:
More26.05.15 Press Release
CBK Announces Launching Automated Cheques Clearing System
His Excellency, The Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Yousef Al-Hashel stated that in keeping with efforts to develop the business environment for banks, and to facilitate automation of various banking activities - with the ultimate aim of improving banking services provided to the public - the CBK’s Board of Directors has approved an automated cheque clearing system as an alternative to the current procedure of processing cheques manually. His Excellency, The Governor indicated that the CBK has been cooperating closely with local banks for about two years in implementing this system.
More25.05.15 Press Release
Key Developments in the Balance of Payments of the State of Kuwait for the Year 2014
The Central Bank of Kuwait (CBK) publishes today the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for 2014 and the revised estimates of 2013 in coherence with the guidelines of the sixth edition of BOP Manual issued by the International Monetary Fund in 2009 (BPM6). Preliminary data of the State of Kuwait’s BOP of 2014 show continuing yet declining surpluses in the external balances. The Current Account (reflecting the outcome of transactions between domestic economy and other economies encompassing goods, services, Primary Income “investment income”, and Secondary Income “current transfers”) realized a surplus of KD 15140 million (30.4% of nominal 2013 GDP) during 2014 against KD 20210 million during 2013 (40.5% of nominal 2013 GDP). The decline in the current account surplus reflects mainly the decrease in the value of oil exports which in addition to the rise in merchandise imports led to a drop in the surplus of the Balance on Goods (merchandise exports minus merchandise imports on f.o.b. basis) to reach KD 22027 million during 2014 compared to KD 25571 million during the previous year on the one hand, and the increase in the deficit on the services account to reach KD 4985 million during 2014 compared to KD 4204 million during the previous year on the other.
More18.05.15 Press Release
2015 International Award for Best Banknote Issue
During the Annual Currency Conference held in Vancouver, Canada between the 10th to 13th May 2015, the International Association of Currency Affairs (IACA) announced that the Sixth Issue of KWD banknotes has been awarded the 2015 International Award for Best Banknote Issue.
More27.04.15 Press Release
CBK Publishes Banking Sector Soundness Indicators
His Excellency, The Governor of the Central Bank of Kuwait, Dr. Mohammad Y. Al-Hashel, has released a statement indicating that in accordance with a policy aimed at providing a set of inclusive financial indicators on the banking and financial system in the State of Kuwait, the Central Bank is to enlarge the range of information provided by means of its quarterly statistical bulletins – particularly with respect to information concerning the asset quality, capital adequacy, liquidity, profitability and operating efficiency of local banks.
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