11.10.08 Press Statement

Governor of CBK Receives the Award of "Central Bank Governor of the Year 2008, Middle East"

Emerging Markets magazine has chosen Sheikh Salem Abdulaziz Al-Sabah, the Governor of CBK for receiving the award of "Central Bank Governor of the Year 2008, Middle East". The Ambassador of the State of Kuwait in Washington DC, Sheikh Salem Al-Abdullah Al-Jaber Al-Sabah, received the award on behalf of the Governor during a ceremony held on the 10th of October 2008 during the IMF and World Bank annual meetings in Washington DC (USA).

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08.10.08 Press Statement

CBK Cuts its Discount Rate to 4.5%

H.E. the Governor of the Central Bank of Kuwait (CBK), Sheikh Salem Abdulaziz Al-Sabah, announced in a press statement to the Kuwait News Agency (KUNA) that the CBK Board of Directors has decided, in its meeting on 8-10-2008, to cut the discount rate by 125 basis points from 5.75% to 4.5% effective from Wednesday the 8th of October 2008. H.E. the Governor explained that the decision resulted from CBK's close monitoring of the fast evolving local, regional and international developments related to the crisis gripping international securities markets, and the need to strengthen the domestic front to confront the potential impacts of that crisis.

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24.09.08 Press Statement

The Central Bank of Kuwait will be hosting the proceedings of two workshops during the period 7-8 October, 2008 on the two standards set by Islamic Financial Services Board (IFSB) concerning risk management, and corporate governance in institutions offering Islamic financial services

The Central Bank of Kuwait will be hosting the proceedings of two workshops on the two standards set by Islamic Financial Services Board (IFSB) concerning risk management, and corporate governance in institutions offering Islamic financial services. These workshops will be held in the Coral Hall at the Marina Hotel during the period 7 - 8 October 2008. These events come in the context of the IFSB function to organize and hold various working group workshops in member countries to promote awareness and facilitate implementation of the standards developed and set by it.

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22.09.08 Press Statement

CBK Board of Directors reviews developments in the Kuwait Stock Exchange

The Board of Directors of the Central Bank of Kuwait (CBK) held a meeting on Sunday the 21st of September 2008, chaired by CBK Governor H.E. Sheikh Salem Abdulaziz Al-Sabah, in which recent developments in the Kuwait Stock Exchange were discussed. The Board reviewed the local, regional, and international factors influencing activity in the market, in the light of the latest available data and information. The Board concluded that it is important to stress the following points:

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17.06.08

Registration of a Bank Branch (Doha Bank of Qatar) in the CBK Bank Register

H.E. Sheikh Salem Abdulaziz Al-Sabah, the Governor of the Central Bank of Kuwait (CBK), stated that on 12th of June 2008 the Minister of Finance issued the Decision No. (23) regarding the registration of Doha Bank branch in the CBK Bank Register. Accordingly, the registration was made on that date.

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10.06.08

Preliminary Approval to Licensing Mashreq Bank of the United Arab Emirates to Open a Branch in the State of Kuwait

H.E. Sheikh Salem Abdulaziz Al-Sabah, the Governor of the Central Bank of Kuwait (CBK), stated that the CBK Board of Directors, in its meeting on 10th of June 2008, preliminarily agreed to license Mashreq Bank, a conventional bank from the United Arab Emirates to open a branch in the State of Kuwait.

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22.05.08

Provisional Balance of Payments of the State of Kuwait for the Year 2007

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07.05.08

H.E. the Governor Issues a Press Statement on Inflation

H.E. the Governor of the Central Bank of Kuwait (CBK) emphasized the need for concerted efforts by many parties and for consistent economic policies to contain increasing inflationary pressures in the national economy at the current stage. He explained in a special press statement to the Kuwait News Agency (KUNA) that the continued increase in the general level of domestic prices, i.e. price inflation, represents a national challenge. It results from various internal and external factors. He illustrated that increased inflationary pressures meant by definition reduced purchasing power, which makes fighting these pressures a primary objective of the monetary policy of the CBK in both the medium and long runs, stressing at the same time the role that other general economic policies may play in this regard.

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04.05.08 Press Statement

The Preliminary Approval to Licensing Muscat Bank of the Sultanate of Oman to Open a Branch in the State of Kuwait

H.E. Sheikh Salem Abdulaziz Al-Sabah, the Governor of Central Bank of Kuwait (CBK) has stated that the CBK Board of Directors, in its meeting on 4th of May 2008, preliminarily agreed to license Musqat Bank of the Sultanate of Oman to open a branch in the State of Kuwait.

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26.03.08 Press Statement

Announcement of a Seminar on Financial Inquiry Units and Their Applications

H.E. Sheikh Salem Abdulaziz Al-Sabah, the Governor of Central Bank of Kuwait (CBK) and Chairman of Kuwait Financial Inquiry Unit (KFIU) declared to the Kuwait News Agency (KUNA) that CBK and KFIU in collaboration with the US Treasury Department are organizing a seminar titled "The Financial Inquiry Units and their Applications" during the period from 31st of March to 2nd of April 2008 in the Zumurruda Hall at the Kuwait Sheraton Hotel.

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