18.05.14 Press Statement

CBK Announces the Registration of Industrial and Commercial Bank of China in the Register of Banks

H.E. the Governor of the Central Bank of Kuwait, Dr. Mohammad Y. Al-Hashel, stated that Resolution of the Minister of Finance No. (23) of 2014 has been issued on 18-05-2014 for registration of the Industrial and Commercial Bank of China “ICBC” branch in the Register of Banks with the Central Bank of Kuwait “CBK”. Therefore, ICBC branch was registered in CBK Register of Banks effectively from the aforesaid date based on approvals the said bank obtained from CBK Board of Directors and Council of Ministers to inaugurate a branch in the State of Kuwait.

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27.04.14 Press Release

CBK Announces the Launch of the GCC POS Service

H.E. the Governor of the Central Bank of Kuwait, Dr. Mohammad Y. Al-Hashel, who is also the current chairman of the Committee of the GCC Governors of Monetary Agencies and Central Banks, said that in line with the enduring coordination among GCC monetary agencies and central banks and pursuant to the resolution of the Committee of Governors passed in its 59th meeting held in the State of Kuwait during 11-12 March 2014, POS Services through the debit cards issued by the banks operating in GCC countries shall be launched on May 1st, 2014 initially within Kingdom of Bahrain, State of Kuwait and State of Qatar, while the other GCC countries will join in a later stage once their systems become ready to fulfill service requirements.

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24.04.14 Press Statement

Key Developments in the Balance of Payments of the State of Kuwait for the Year 2013*

Provisional data on the BOP of the State of Kuwait for 2013 indicate continued surpluses in the external balances. The Current Account (reflecting the outcome of transactions between the domestic economy and other economies encompassing goods, services, Primary Income "investment income", and Secondary Income "current transfers") realized a surplus of KD 20316 million (39.7% of 2012 GDP) during 2013 against KD 22062 million (43.1% of 2012 GDP) during 2012. The decline in the current account surplus mainly reflects the decrease in the surplus of the Balance on Goods (merchandise exports minus merchandise imports on f.o.b. basis) which reached KD 25442 million during 2013 compared to KD 26762 million during the previous year.

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20.04.14 Press Conference

Securing Monetary Stability & Financial Soundness in the State of Kuwait

His Excellency, the Governor of the Central Bank of Kuwait (CBK) - Dr. Mohammad Y. Al-Hashel presented “Securing Monetary Stability & Financial Soundness in the State of Kuwait”, in the press conference held at CBK headquarters on Sunday, 20th April 2014.

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25.03.14 Press Release

CBK Announces Principles, Rules and Regulations for Foreign Banks’ Licensing and Operations in the State of Kuwait

H.E. the Governor of the Central Bank of Kuwait, Dr. Mohammad Y. Al-Hashel announces that CBK’s Board of Directors has approved the Principals, Rules and Regulation for the Licensing and Operations of Foreign Banks’ Branches, and the Regulations for Opening a Foreign Banks’ Representative Offices, in the State of Kuwait.

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08.03.14 Press Release

The 59th meeting of the Committee of Governors of Monetary Agencies and Central Banks in GCC in the State of Kuwait

Governors of Monetary Agencies and Central Banks in the Cooperation Council for the Arab States of the Gulf “GCC” shall hold their 59th meeting of the Committee of Governors of GCC Monetary Agencies and Central Banks in the State of Kuwait on 11-12 March 2014 in the State of Kuwait. The meeting will be chaired by H.E. Governor of the Central Bank of Kuwait, Dr. Mohammad Y. Al-Hashel. Dr. Al-Hashel will also participate in the 27th meeting of the Board of Directors of Gulf Monetary Council scheduled on Wednesday, 12 March 2014.

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01.02.14 Press Release

CBK Approves Implementation of Basel III Capital Adequacy Standard for Kuwaiti Banks

His Excellency, the Governor of the Central Bank of Kuwait (CBK) - Dr. Mohammad Y. Al-Hashel, announced that the CBK’s Board of Directors has approved the structure of the Basel III capital adequacy standard and the transitional phase of its implementation. This standard is among a set of comprehensive reform measures developed by the Basel Committee on Banking Supervision (BCBS).

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05.01.14 Press Release

CBK Announces New Website Launch

His Excellency the Governor of the Central Bank of Kuwait (CBK) Dr. Mohammad Y. Al-Hashel announced that in pursuance of CBK's continued efforts to develop its functions, deepen its role in supporting the national economy, and enhancing transparency through the expansion of an easily accessed base of data and information posted on its website, the CBK today launched a new website, which has an advanced internet browser, and provides rich information for researchers and other interested individuals, and works as a channel for interacting with clients and other website visitors. The launching of the new website consists of two phases, the First (current) phase includes the launching of a new website in English, while the Second phase will introduce the Arabic content of the new website.

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