Press Releases
20.12.16 Press Release
CBK Issues Instructions on Shariah Supervisory Governance for Kuwaiti Islamic Banks
His Excellency, the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al Hashel announced that the CBK Board of Directors has resolved, in its session held on December 20th, 2016, to issue instructions on “Shariah Supervisory Governance for Kuwaiti Islamic Banks.” The issuance of these instructions are in line with the continuing efforts exerted by the CBK to promote Islamic banking activities in the State of Kuwait and accordingly to develop Shariah supervisory regulations for Islamic banks as per applicable best practices. The aforesaid instructions replace the CBK’s instructions regarding “Rules and Conditions for the Appointment and Responsibilities of the Shariah Supervisory Board in Islamic Banks” issued on June 15th and June 19th, 2003 and complement the instructions related to “Rules & Standards of Corporate Governance in Kuwaiti Banks” issued in 2012.
More14.12.16 Press Release
CBK Raises Discount Rate by a Quarter Percentage Point to 2.50% From 2.25%
His Excellency the Governor and Chairman of The Board of Directors of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced in a press statement that CBK Board of Directors decided to raise the discount rate by a quarter percentage point to 2.50% from 2.25% effective from 15-12-2016. The Governor added that this decision is based on the continuous monitoring by CBK of the domestic economic, monetary and banking conditions including movements of the KD interest rates in the domestic market taking into consideration movements in interest rates on major international currencies. Dr. Al-Hashel further explained that the decision to raise the discount rate reflects CBK’s efforts to ensure the continued competitiveness and attractiveness of the national currency as a store of domestic savings, which constitute a major source of funding provided by the local banking and financial units to the various sectors of the national economy and thus maintain a supporting environment for sustainable economic growth and development.
More15.11.16 Press Statement
International Monetary Fund 2016 Article IV Consultation - Concluding Statement
His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, issued a press statement at the end of International Monetary Fund (IMF) mission visit to the State of Kuwait during November 6-14, 2016 under 2016 regular Article IV consultation.
08.11.16 Press Release
CBK Issues a Commemorative Coin on the 130th Anniversary of the First National Currency Coin “Pice”
His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced that CBK issued a commemorative coin for the 130th anniversary of the first national coin "Pice".
More15.10.16 Press Release
CBK Announces a Training and Qualifying Career Program
His Excellency the Governor of the Central Bank of Kuwait (CBK) and Chairman of Institute of Banking Studies, Dr. Mohammad Y. Al-Hashel, announced that the CBK has launched for the sixth year running a Kuwaiti Graduates Development Program (KGDP) in collaboration with Kuwaiti banks.
More21.09.16 Press Statement
CBK ِAnnounces the Publication of the Economic Report for 2015
The Central Bank of Kuwait (CBK) announced the publication of the Economic Report for 2015, following the release of Gross Domestic Product (GDP) data by the Central Statistical Bureau at the end of July 2016. This is the forty-fourth issue of the Economic Reports series that the CBK is keen to publish on an annual basis to provide comprehensive coverage and developments of the economic activities in the State of Kuwait. The report comprises the latest available data and statistics on various aspects of the economic performance in the State of Kuwait during 2015. Moreover, the CBK has issued, for the first time, an annex that summarises the main economic indicators contained in the Economic Report for 2015. The report is composed of six major parts, each addressing a key topic at an appropriate detail.
More12.07.16 Press Statement
CBK Announces the Publication of the Financial Stability Report for 2015
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 2015 - the fourth 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.
More21.06.16 Press Release
CBK Announces the Publication of the Annual Report for the Fiscal Year 2015/16
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) 2015/16. The Governor clarified that this 44th issue of the series of Annual Reports prepared and published by the CBK contains the CBK Balance Sheet, the Profit & Loss Account for FY ended 31st March 2016, in addition to the Auditors' Report on the financial statements.
More17.05.16 Press Release
Key Developments in the Balance of Payments of the State of Kuwait for the Year 2015
The Central Bank of Kuwait (CBK) published today the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for 2015 and the revised data of 2014 in coherence with the guidelines of the sixth edition of the Balance of Payments Manual issued by the International Monetary Fund in 2009 (BPM6). Preliminary data of the State of Kuwait’s BOP of 2015 show a decline in the surpluses of 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 1797 million (3.9% of nominal 2014 GDP) during 2015 against KD 15479 million during 2014 (33.2% of nominal 2014 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 8419 million during 2015 compared to KD 22059 million during the previous year on the one hand, and the increase in the deficit on the services account to reach KD 5774 million during 2015 compared to KD 5148 million during the previous year on the other.
More02.05.16 Press Release
CBK hosts Regional Seminar on “Liquidity Risk and Recovery and Resolution Planning (RRP) for D-SIBs”
His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, announced that in line with CBK efforts to reinforce the financial stability, highlight the factors that may be a source of shocks affecting that stability and define the appropriate controls to minimize and address such risks, CBK hosts a Regional Seminar on “Liquidity Risk and Recovery and Resolution Planning (RRP) for D-SIBs” in collaboration with the General Secretariat of the Cooperation Council for the Arab States of the Gulf (GCC) during the period from 03 to 05 May 2016 with participation of representatives of GCC central banks and monetary institutions.
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