18.11.24 Press Statement

CBK Governor Honors the Winners of "2023 Kuwaiti Economic Student Award"

The Central Bank of Kuwait (CBK) held a ceremony to honor the winners of the “Kuwaiti Economic Student Award” in a ceremony attended by the CBK Governor and Chairman of the Board of Directors of the Institute of Banking Studies (IBS), Mr. Basel A. Al-Haroon, and a host of elite banking sector figures on Monday, November 18, 2024, at the CBK headquarters.

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07.11.24 Press Release

Statement on the Local Economic, Financial and Banking Developments

As part of the Central Bank of Kuwait's continuous monitoring of all economic and monetary variables and indicators in international markets and geopolitical developments, and effects thereof on the global economic conditions and the performance of the local economy, and their implications on the policy response, considering the conditions of each economy, and the nature of our national economy, the Central Bank of Kuwait (CBK) released a statement indicating that its current assessment of the available local economic and financial data and information demonstrate the continued safety and resilience of monetary and financial stability in the State of Kuwait.

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14.10.24 Press Statement

The Seventh Edition (September 2024); "Overview on the Balance of Payments and its Importance in Economic Analysis"

The Central Bank of Kuwait (CBK) releases the seventh edition (September 2024) "Overview on the Balance of Payments & its Importance in Economic Analysis".

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10.10.24 Press Statement

International Monetary Fund Concludes 2024 Article IV Consultation with the State of Kuwait

International Monetary Fund (IMF) Concludes 2024 Article IV Consultation with the State of Kuwait

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07.10.24 Press Statement

CBK Enriches Economic & Financial Knowledge among Business Administration Students at "Kuwait-IMF Towards a Constructive Partnership Forum"

The Central Bank of Kuwait (CBK) Enriches Economic & Financial Knowledge among Business Administration Students at "Kuwait-IMF Towards a Constructive Partnership Forum"

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29.09.24 Press Release

CBK Continues to Enhance and Update Monthly Statistics Tables

Keen on assessing and updating its statistical bulletins, and seeking further development of its statistical data to provide integrated and comprehensive information in terms of scope of coverage, regularity, up-to-date data, and quality in line with the latest global best practices in the field, the Central Bank of Kuwait has updated the tables in its Monthly Monetary Statistical Bulletin as of the August 2024 issue.

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26.09.24 Press Release

CBK Issues 2023 Financial Stability Report

In line with its efforts to enhance transparency, disclosure, and provide reliable information and statistics related to the Kuwaiti financial and banking sector, the Central Bank of Kuwait (CBK) has issued its Financial Stability Report for the year 2023.

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18.09.24 Press Release

CBK Cuts Discount Rate by 25 Basis Points to 4.00%

In light of its vigilant monitoring of the domestic and international economic developments and the end of the monetary tightening cycle initiated since March 2022 at most of global central banks, the Board of Directors of the Central Bank of Kuwait (CBK) decided to cut the discount rate by 25 Basis Points from 4.25% to 4.00% effective 19-09-2024.

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13.09.24 Press Statement

Fitch Ratings Affirms State of Kuwait Sovereign Credit Rating at (AA-); Outlook Stable

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29.08.24 Press Statement

CBK Launches "Kuwait Overnight Interest Average" (KONIA)

Continuing its significant strides made to consolidate financial stability and introduce financial benchmarks for the local market seen as a reliable reference as per the best international standards, and contributes to enhancing transparency and efficiency of financial transactions in the State of Kuwait, the Central Bank of Kuwait (CBK) announced the launch of "Kuwait Overnight Interest Average" (KONIA).

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18.08.24 Press Release

Launching FinTech MBA Internal Scholarship Program for Kuwaitis in Cooperation with Gulf University

In light of CBK’s strategy to develop qualified national cadres in the financial and banking sector, and in response to the changes taking place in this field, the Kuwait Institute of Banking Studies (KIBS) announces the launch of FinTech MBA internal scholarship program for Kuwaitis, in cooperation with Kuwaiti banks and Gulf University for Science and Technology.

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20.06.24 Announcement

CBK Launches "Initiative Accelerator Program" at Innovation Hub "Wolooj"

The "Initiative Accelerator Program" at the Central Bank of Kuwait's Innovation Hub "Wolooj" is a dynamic initiative aimed at supporting aspiring Kuwaiti individuals with innovative ideas that benefit the banking and financial sector. The program is designed to foster creativity, innovation, and entrepreneurship within the local ecosystem by providing participants with the necessary support, resources, and mentorship to turn their ideas into successful ventures on pre-defined themes.

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07.06.24 Press Release

Standard & Poor's Affirms State of Kuwait Ratings at 'A+'; Outlook Stable

Standard & Poor's Global Ratings: State of Kuwait ratings affirmed at 'A+'; outlook stable.

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03.06.24 Press Statement

CBK Adds 2 New Companies to e-Payment Services Providers, e-Money Services Providers & e-Payment Systems Operators Register

Continuing its efforts to encourage innovation in financial services, enhance electronic payment services and regulate these activities, ensure providing high-quality, efficient and secure services to the public, and improve effectiveness and flexibility of financial transactions, the Central Bank of Kuwait (CBK) approved the registration of two companies, in which, one to practice as a Large e-Money Services Provider (EMSP), and one company as a Small e-Payment Services Operator (EPSO).

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20.05.24 Press Release

CBK Launches Fourth Cohort of the Cybersecurity Leaders Program

In light of CBK’s strategy to develop qualified national cadres in the banking sector and the national economy, and build technical capacities in cybersecurity thus bolstering the financial and banking sector’s defenses against the risks of the accelerating developments in modern technology used in the sector’s information systems, ensuring that the latest technology is adopted with reduced risk, and as part of the Kafa’a initiative launched by CBK in collaboration with Kuwaiti banks and under the management of the Kuwait Institute of Banking Studies (KIBS), the CBK Governor and Chairman of the Board of Directors of (KIBS), Basel Al-Haroon, announced the launch of the 4th Cohort of the Cybersecurity Leaders Program.

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16.05.24 Press Statement

Moody's Press Release Regarding the Sovereign Credit Rating of the State of Kuwait

Moody's Investors Service has on 16 May 2024 affirmed Kuwait's sovereign credit rating at "A1", with stable outlook.

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09.05.24 Press Statement

IMF Concludes its Periodic Preliminary Consultations with the State of Kuwait under Article IV of the IMF Establishment Agreement

The International Monetary Fund (IMF) concludes its periodic preliminary consultations with the State of Kuwait under Article IV of the IMF establishment agreement.

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28.04.24 Press Statement

Key Developments in the Balance of Payments of the State of Kuwait for the Year 2023

Key Developments in the Balance of Payments of the State of Kuwait for the Year 2023.

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18.04.24 Press Statement

CBK Hosts a Workshop on Monetary Policy provided by IMF’s Middle East Center for Economics and Finance (CEF)

The Central Bank of Kuwait (CBK) hosted a workshop for GCC officials on selected issues in monetary policy, organized by the International Monetary Fund's Middle East Center for Economics and Finance (IMF-CEF) April 16-18, 2024. The bank said this comes part of efforts to train national and GCC cadres, enhance monetary policy approaches, and implement global best practices in this field, adding that the attendees are representatives of GCC central banks and monetary authorities.

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16.04.24 Press Statement

Extending Working Hours of the Real Time Gross Settlement System (KASSIP)

In continuous of Central Bank of Kuwait efforts to enhance the quality and sustainability of financial services provided by the banking sector in line with a vision aimed at achieving round-the-clock financial services that accommodate the needs of several segments of the society, and serve all the national economic sectors, CBK, as the operator and regulator of the national payment systems infrastructure, issued a circular to all local banks on 15/4/2024 extending the working hours for the Real Time Gross Settlement System (KASSIP) starting Monday 22/4/2024.

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07.04.24 Press Statement

CBK Adds 5 New Companies to e-Payment Services Providers, e-Money Services Providers & e-Payment Systems Operators Register

Continuing its efforts to boost innovation in financial services, enhance electronic payment services and regulate these activities, ensure providing high-quality, efficient and secure services to the public, and improve effectiveness and flexibility of financial transactions, the Central Bank of Kuwait (CBK) approved the registration of four companies to practice as e- Payment Services Providers (EPSP), and one company as an e-Payment Services Operator (EPSO).

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03.04.24 Press Release

CBK Honors Distinguished Supporters of "Diraya" Campaign for the Year 2023

The Central Bank of Kuwait (CBK) honors distinguished supporters of "Diraya" campaign for the year 2023.

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19.03.24 Press Statement

The Sixth Edition (March 2024); "AI, between Advantages and Challenges"

The Central Bank of Kuwait (CBK) releases the sixth edition (March 2024) which is one of the quarterly series the CBK has been issuing since November 2022, as part of the CBK’s ongoing efforts to keep abreast with the global trends of central banks in enhancing disclosure and transparency by covering some carefully selected economic, monetary and banking topics with the aim to raise awareness and highlight CBK’s efforts on the area of monetary and financial stability. The sixth edition (March 2024) comes under the title "Artificial Intelligence: Advantages and Challenges". The first section of the report, entitled "Artificial Intelligence and the Economy", reviews the most important channels through which AI technology impacts gross domestic product and offers a comprehensive overview of global companies' investments in the field of AI technology. The second section, entitled "Channels of the Impact of Artificial Intelligence Technologies on the Labor Market," examines how AI technology impacts the labor market in particular, and the extent to which aspects of its impact vary between advanced economies, emerging market and developing countries. The third section, entitled "Potential AI Applications for Central Banks’ Business," presents the most significant AI capabilities that can potentially enhance central banks business at various levels to achieve financial stability and avoid systemic risks. The fourth section, entitled "Recent Examples of AI Applications in the Field of Banking and Financial Services," sheds light on various aspects of AI applications to enhance banking and financial services quality, while presenting some examples of AI applications by a number of world banks. The fifth section, entitled "Challenges and Risks," addresses the most important challenges posed by use of AI technology on economic and social level. An explanatory box on the monetary trends of the major global central banks is also included herein. This report is the first in this series issued for the year 2024.

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15.03.24 Press Statement

Fitch Ratings Affirms State of Kuwait Sovereign Credit Rating at (AA-); Outlook Stable

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07.03.24 Press Statement

CBK Celebrates International Women’s Day

As part of Central Bank of Kuwait’s drive to empower women to fulfil their vital role in development, the Bank affirmed its support to women, as it provides one of the most prominent examples of women’s active role within Kuwaiti society in all professions and their marked performance across sectors.

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20.02.24 Press Statement

New Extension of the Real Time Gross Settlement System’s (KASSIP) Working Hours

As part of CBK’s efforts to develop the banking sector and improve its banking services to raise the efficiency of payment systems as being a main anchor in maintaining monetary and financial stability in the State of Kuwait, and in light of the roles and responsibilities entrusted to CBK to develop payment systems and ensure the soundness and security of financial transactions. The Central Bank of Kuwait (CBK), the operator and regulator of the national payment systems’ infrastructure, issued a circular to all local banks on 14/2/2024 extending the working hours for the Real Time Gross Settlement System (KASSIP), for an additional hour, starting Tuesday 20/02/2024.

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19.02.24 Press Statement

CBK Honors the Graduates of the 15th Session of Harvard Business School’s Executive Development Program

Under the patronage of the Governor of the Central Bank of Kuwait (CBK) and Chairman of the Board of Directors of the Kuwait Institute of Banking Studies (KIBS), Basel A. Al-Haroon, CBK honored the graduates of the annual executive education program delivered by Harvard Business School, titled “Navigating the Future: Leading Financial Institutions in an Era of Innovation and Transformation”. This program aims to develop executives in the banking and financial sector and is a part of the “Kafa’a” initiative to develop national cadres which was launched by CBK in cooperation with Kuwaiti banks and managed by KIBS.

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14.02.24 Press Release

CBK launches “Small and Medium Enterprises Financing Survey”

In its continued efforts to provide a business-friendly environment that helps companies obtain appropriate financing, the Central Bank of Kuwait (CBK) launched "Small and Medium Enterprises Financing Survey”. This recently launched questionnaire is comprehensive and sheds light on the process of obtaining credit and utilization thereof.

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