19.12.17 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Third Quarter of 2017

The Central Bank of Kuwait (CBK) published today the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for the third quarter of 2017 and the restated data of the second quarter of the mentioned year. Data shows that the Current Account (which sums up receipts and payments between domestic economy and other economies in terms of goods, services and income) recorded a surplus of KD 424 million during 2017 Q3 against a surplus of KD 261 million during the previous quarter, i.e. a rise of KD 162 million or 62.1%. The upturn in the current account surplus resulted from the increase in the surpluses of balance on goods, primary and secondary incomes on one hand, and the rise in the services account deficit on the other hand. The mentioned surplus in the current account mainly reflects an increase in the value of oil exports at a greater rate than the increase in the value of merchandise imports resulting in a rise in the surplus of the balance on goods (merchandise exports minus merchandise imports) to reach KD 1,920 million during 2017 Q3 compared to KD 1,789 million during the previous quarter. On the other hand, deficit in the Services Account (net value of services transactions between residents and non residents, the most important of which are transportation, travel, communications and construction) increased by KD 334 million or 19.7% to reach KD 2,029 million during 2017 Q3, compared to a deficit of KD 1,696 million during Q2.

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18.12.17 Press Release

CBK Announces an Executive Education Program for Banking and Finance Executives with Harvard Business School

Dr. Mohammad Yousef Al-Hashel, Governor of the Central Bank of Kuwait, Chairman of the Board of Directors of the Institute of Banking Studies (IBS), announced that the IBS will work with Harvard Business School for the ninth year in a row to present an executive education program for banking and finance executives in the GCC region, and from other Middle Eastern countries, during January 27th – February 1st, 2018.

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13.12.17 Press Release

On the Basis of a Thorough Study of Latest Data, CBK Maintains its Discount Rate at Current Level

On the basis of a thorough study of latest data, the Central Bank of Kuwait (CBK) maintains its discount rate at current level.

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21.11.17 Press Release

CBK Organizes Workshop on Combating Money Laundering and Financing of Terrorism

Central Bank of Kuwait organizes a workshop on Combating Money Laundering and Financing of Terrorism, held in the State of Kuwait during 21-23 November 2017.

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14.11.17 Press Release

CBK Announces the Launch of the Cyber Security Leaders Program (CSLP)

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 CBK has launched the Cyber Security Leaders Program (CSLP), a training and qualifying program for Kuwaiti nationals specialized in the field of IT security, in collaboration with Kuwaiti banks and managed by the Institute of Banking Studies (KIBS).

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05.11.17 Press Release

CBK Board of Directors' Decision Regarding CBK Employees’ Salaries

His Excellency, The Governor of the Central Bank of Kuwait, Dr. Mohammad Y. Al-Hashel statement on CBK Board of Directors' decision regarding CBK employees’ salaries.

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02.11.17 Press Release

CBK Assures the Genuineness and Highest Quality of all Denominations of the Kuwaiti Dinar Banknotes in Circulation

The Central Bank of Kuwait (CBK) assures the genuineness and highest quality of all denominations of the Kuwaiti Dinar banknotes in circulation.

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29.10.17 Press Release

CBK Announces the Launch of Kuwaiti Graduates Development Program (KGDP) - Seventh Batch

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 seventh year running a Kuwaiti Graduates Development Program (KGDP), a training and qualifying program for Kuwaiti nationals new graduates to work in the banking sector in collaboration with Kuwaiti banks and managed by the Institute of Banking Studies (KIBS).

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05.10.17 Press Release

The Governor Receives the Fifth Batch of Graduates of the Kuwaiti Graduates Development Program (KGDP)

His Excellency the Governor of the Central Bank of Kuwait (CBK) and Chairman of Institute of Banking Studies, Dr. Mohammad Y. Al-Hashel, received the fifth batch of graduates of “Kuwaiti Graduates Development Program (KGDP)”, and congratulated them on their successful completion of the program and expressed his hope and aspirations for them with more success in their careers in the Kuwaiti banking sector. Dr. Al-Hashel affirmed that this program initiated by CBK in collaboration with the Kuwaiti banks is deemed a national project that contributes to develop and improve the skills and competencies of Kuwaiti national workforce with the aim to continue enhancing the banking industry in the country.

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03.10.17 Press Release

CBK Announces the Launch of "Kuwaiti Economic Researcher Award"

His Excellency the Governor of the Central Bank of Kuwait (CBK) and Chairman of Institute of Banking Studies, Dr. Mohammad Y. Al-Hashel, announces the launch of the "Kuwaiti Economic Researcher Award".

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13.08.17 Press Statement

CBK ِAnnounces the Publication of the Economic Report for 2016

The Central Bank of Kuwait (CBK) announces the publication of the Economic Report for 2016.

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09.08.17 Press Statement

CBK Announces the Publication of the Financial Stability Report for 2016

Press Statement: CBK Announces the Publication of the Financial Stability Report for 2016.

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08.08.17 Press Statement

CBK Announces the Publication of the Annual Report for the Fiscal Year 2016/17

His Excellency, Dr. Mohammad Y. Al-Hashel, the Governor of the Central Bank of Kuwait (CBK), announced the release of the CBK’s Annual Report for FY2016/17, which is the 45th issue of Annual Reports series prepared and published by CBK. The Governor clarified that the report contains CBK Balance Sheet and Profit & Loss Account for the FY ended 31st March 2017 and the Auditors’ Report on the financial statements. In addition, the report outlines the key developments in the main monetary and banking indicators and aggregates in the areas of the KD exchange rate, domestic interest rates, money supply, deposits, bank credit, domestic liquidity, public debt instruments, aggregate balance sheet of local banks, and domestic inflation rate in addition to CBK’s regulatory and supervisory efforts as well as the major banking operations and key tasks performed by CBK to improve its manpower capabilities and modernize its IT infrastructure.

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14.06.17 Press Release

CBK Maintains Discount Rate at Current Levels

In a release to the press, His Excellency the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, highlighted recent domestic economic, monetary and banking conditions and developments and their future trends, as well as the recent developments in US Dollar, interest rates and the key trends of CBK monetary policy. Dr. Al-Hashel noted that the continuous monitoring by CBK indicate a modest growth in domestic economic activity, supported by public expenditure, particularly capital expenditure, despite low crude oil prices, on one hand, and increasing interest rate on the US Dollar in light of the decision by US Federal Reserve on 14-06-2017 to raise further the interest rates on the other hand.

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06.05.17 Press Release

CBK and AAOIFI Organize Workshop on Developing the Islamic Financial and Banking Business

The Central Bank of Kuwait (CBK) Organizes, in collaboration with "Accounting and Auditing Organization for Islamic Financial Institutions" (AAOIFI), a workshop on developing the Islamic financial and banking business and enhancing the related professional capabilities and know-how, held in CBK headquarters during Sunday & Monday 7-8 May 2017.

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04.05.17 Press Release

Key Developments in the Balance of Payments of the State of Kuwait for the Year 2016

The Central Bank of Kuwait (CBK) published today the preliminary data of the Balance of Payments (BOP) of the State of Kuwait for 2016 and the revised data of 2015. Data shows that the Current Account (which sums up transactions between domestic economy and other economies encompassing goods, services and income) recorded a deficit of KD 1510 million during 2016 (4.5% of total estimated 2016 GDP at current prices) against a surplus of KD 1208 million during 2015 (3.5% of 2015 GDP at current prices). The mentioned deficit in the current account reflects mainly the decrease in the value of oil exports on the one hand, and relative stability in the value of merchandise imports on the other causing a drop in the surplus of the Balance on Goods (merchandise exports minus merchandise imports on FOB basis) to reach KD 6075 million during 2016 compared to KD 8396 million during the previous year. Furthermore, deficit in the Services Account ((Net) reflects the value of services transactions between residents and non residents, the most important of which are transportation, travel, communications, construction, other services and government goods and services) increased to reach KD 6353 million during 2016 compared to a deficit of KD 6011 million during the previous year.

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15.03.17 Press Release

CBK Raises Discount Rate by a Quarter Percentage Point to 2.75% From 2.50%

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 2.75% from 2.50% effective from 16-03-2017. 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.

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31.01.17 Press Release

CBK Approves Opening of a Second Branch of Al Rajhi Bank 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 opening of a second branch of Al Rahji Bank in the State of Kuwait.

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14.01.17 Press Release

CBK Announces Scholarship Program for Master Degree

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 third year running a Master’s Degree Scholarship Program (MDSP) in collaboration with Kuwaiti banks.

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