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Central Bank of Kuwait

Coordinates:29°22′39″N47°58′17″E / 29.3774°N 47.9714°E /29.3774; 47.9714
From Wikipedia, the free encyclopedia
State-owned bank in Kuwait
Central Bank of Kuwait
بنك الكويت المركزي
HeadquartersKuwait City
Coordinates29°22′39″N47°58′17″E / 29.3774°N 47.9714°E /29.3774; 47.9714
Established30 June 1968; 57 years ago (1968-06-30)
Ownership100%state ownership[1]
GovernorBasel Ahmad Al-Haroon[2]
Central bank ofState of Kuwait
CurrencyKuwaiti binance
Reserves25 660 million USD[1]
Websitecbk.gov.kw

TheCentral Bank of Kuwait (CBK;Arabic:بنك الكويت المركزي)[3] is thecentral bank ofKuwait. It offers a strict currency system on behalf of the state. The bank regulates Kuwaiti stock market along with theKuwait Stock Exchange, the Ministry of Commerce and Industry and theMinistry of Finance.[4]

Overview

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It was established on 30 June 1968,[5] succeeding theKuwait Currency Board that had been created in 1961. The bank launched Financial Intelligence Unit in 2003.[6]

Salem Abdulaziz Al Sabah served as the governor of the bank for over a quarter of a century, until February 2012, when he resigned after criticising the state's spending policies.[7][8] Dr. Mohammad Al Hashel succeeded Sabah as governor in April 2012 and Yousef Al Obaid as deputy governor in May 2012.[9]

Governors

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Governors of the Central Bank of Kuwait.[10]

See also

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References

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  1. ^abWeidner, Jan (2017)."The Organisation and Structure of Central Banks"(PDF).Katalog der Deutschen Nationalbibliothek.
  2. ^"Central Bank of Kuwait: Profile".
  3. ^Karami, Fawaz (22 June 2020)."CBK: local banks offered USD 8.9bln-worth credit facilities to businesses in 100 days".Kuwait News Agency. Retrieved19 September 2020.
  4. ^Al Loughani, Nabeel; Chappell, David (2001). "Modelling the day-of-the-week effect in the Kuwait Stock Exchange: a nonlinear GARCH representation".Applied Financial Economics.11 (4): 353.doi:10.1080/096031001300313910.S2CID 573176971.{{cite journal}}:Check|s2cid= value (help)
  5. ^"Index". Central Bank of Kuwait. Archived fromthe original on 31 October 2013. Retrieved30 September 2014.
  6. ^"06.10.21 | Press Statement | CBK & Kuwait Financial Intelligence Unit (KFIU) Sign Memorandum of Understanding".www.cbk.gov.kw. Retrieved30 May 2024.
  7. ^"About CBK: Organization". Central Bank of Kuwait. Archived fromthe original on 10 February 2011. Retrieved8 February 2011.
  8. ^Armitstead, Louise (13 February 2012)."Kuwait's central bank boss Sheikh Salem Abdulaziz Al Sabah quits after criticising state".The Telegraph. Retrieved11 October 2013.
  9. ^"Kuwait to take measures to cut spending - cenbank".Arabian Business. Reuters. 1 October 2012. Retrieved11 October 2013.
  10. ^"Former Governors".cbk.gov.kw.

External links

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