Company Insights Central Bank of Kuwait Banking & Finance Central Bank of Kuwait Overview The Central Bank of Kuwait (CBK) was established in June 1968 and began operating in April 1969. The bank carries out the tasks of the Kuwait Monetary Council and is the authority responsible for issuing the Kuwaiti dinar and regulating banks and banking transactions in the country. It is managed by a board of directors including a governor and deputy governor, who are appointed by decree for a period of five years, subject to renewal. The board also includes two government representatives – one from the Ministry of Finance and one from the Ministry of Commerce and Industry – and four other members, appointed by decree for a renewable three-year period. Central Bank of Kuwait News Banking & Finance Kuwait money reforms force exchange shops to close doors Tougher anti-money laundering rules in Kuwait have forced more than 100 exchange companies to close, according to local reports. The Central Bank of Kuwait’s new rules, which took effect on April 1, include closer scrutiny and an increase in minimum capital to KWD2 million ($6.6 million). On Tuesday Khalifa Al Ajeel, Kuwait’s commerce and industry […] April 4, 2025 Banking & Finance Kuwait prepares banks ahead of potential new bond sales Kuwait has launched a plan to develop a new electronic system within its banking sector to prepare for the resumption of government bond sales to fund projects and shore up fiscal deficits, a local newspaper reported. The central bank of Kuwait invited representatives of banks to discuss preparations to launch the system that will give […] March 4, 2025 Economy Kuwait consumer spending reaches record high Consumer spending in Kuwait hit record levels in 2024, underpinned by a growing preference for card payments and a thriving ecommerce industry. Figures from the Central Bank of Kuwait for 2024 showed spending reached KD47.81 billion ($155.7 billion), a rise of 4.4 percent from the previous year. The figures show an increase in card payments and […] January 30, 2025 Banking & Finance Kuwait ready to move on long-awaited mortgage law Kuwait is close to finalising a mortgage law that aims to increase homeownership among its citizens. At present, only the government-controlled Kuwait Credit Bank (KCB) can provide property loans to Kuwaiti citizens and companies. The law has been in planning since 2018, when the central bank submitted liberalisation proposals that would allow commercial banks to […] January 29, 2025 Analysis Real Estate Building more homes a better strategy for Kuwait, say experts Kuwait has tightened property ownership restrictions on non-GCC nationals in an attempt to make real estate more affordable for locals, but industry watchers say building more homes would be the better strategy. The small, oil-rich emirate has already imposed strict standards on nationals of countries from outside the Gulf who wanted to purchase domestic real […] November 15, 2024 Economy Kuwait needs to push reforms for economic growth, says IMF Kuwait must accelerate the introduction of fiscal and structural reforms that are needed to increase private sector-led growth and diversify its economy away from hydrocarbons, the International Monetary Fund said on Friday. Kuwait’s economy will contract by 3.2 percent this year because of an Opec+ oil production cut, but will grow by 2.8 percent in 2025 […] October 11, 2024 Economy Kuwait’s economy holds up against challenges, says central bank Robust spending and “long-due” structural reforms expected to accelerate following “recent political developments” will help Kuwait’s economy overcome some challenges, according to the Central Bank of Kuwait (CBK). Kuwait faced multiple challenges in 2023 in the face of high inflation, rising global interest rates and bubbling geopolitical tensions in the region, according to CBK’s 12th […] October 4, 2024 Finance Kuwaiti lenders propose merger to create $50bn Islamic bank Boubyan Bank and Gulf Bank, two of the largest Kuwait-listed shariah-compliant lenders, are set to commence an initial feasibility study for a potential merger. The merged entity will be among the largest Islamic banks with more than $50 billion in assets. NewsletterGet the Best of AGBI delivered straight to your inbox every week NewsletterGet the […] August 1, 2024 Opinion Banking & Finance Strong results likely from Gulf banks – but there’s more to success than profit Expect healthy returns for 2023, yet look beyond the financials for 2024 January 26, 2024 Banking & Finance Boursa Kuwait hails increasing international investor appeal The CEO of Boursa Kuwait says he is seeing increased confidence from international investors in the stock exchange as net profit grew by over 13 percent to KD18 million ($59 million) in 2022. “We were successful in attracting institutional international investors, as total foreign turnover activity was up 29 percent, with a total traded value […] February 13, 2023 Posts navigation
Banking & Finance Kuwait money reforms force exchange shops to close doors Tougher anti-money laundering rules in Kuwait have forced more than 100 exchange companies to close, according to local reports. The Central Bank of Kuwait’s new rules, which took effect on April 1, include closer scrutiny and an increase in minimum capital to KWD2 million ($6.6 million). On Tuesday Khalifa Al Ajeel, Kuwait’s commerce and industry […] April 4, 2025
Banking & Finance Kuwait prepares banks ahead of potential new bond sales Kuwait has launched a plan to develop a new electronic system within its banking sector to prepare for the resumption of government bond sales to fund projects and shore up fiscal deficits, a local newspaper reported. The central bank of Kuwait invited representatives of banks to discuss preparations to launch the system that will give […] March 4, 2025
Economy Kuwait consumer spending reaches record high Consumer spending in Kuwait hit record levels in 2024, underpinned by a growing preference for card payments and a thriving ecommerce industry. Figures from the Central Bank of Kuwait for 2024 showed spending reached KD47.81 billion ($155.7 billion), a rise of 4.4 percent from the previous year. The figures show an increase in card payments and […] January 30, 2025
Banking & Finance Kuwait ready to move on long-awaited mortgage law Kuwait is close to finalising a mortgage law that aims to increase homeownership among its citizens. At present, only the government-controlled Kuwait Credit Bank (KCB) can provide property loans to Kuwaiti citizens and companies. The law has been in planning since 2018, when the central bank submitted liberalisation proposals that would allow commercial banks to […] January 29, 2025
Analysis Real Estate Building more homes a better strategy for Kuwait, say experts Kuwait has tightened property ownership restrictions on non-GCC nationals in an attempt to make real estate more affordable for locals, but industry watchers say building more homes would be the better strategy. The small, oil-rich emirate has already imposed strict standards on nationals of countries from outside the Gulf who wanted to purchase domestic real […] November 15, 2024
Economy Kuwait needs to push reforms for economic growth, says IMF Kuwait must accelerate the introduction of fiscal and structural reforms that are needed to increase private sector-led growth and diversify its economy away from hydrocarbons, the International Monetary Fund said on Friday. Kuwait’s economy will contract by 3.2 percent this year because of an Opec+ oil production cut, but will grow by 2.8 percent in 2025 […] October 11, 2024
Economy Kuwait’s economy holds up against challenges, says central bank Robust spending and “long-due” structural reforms expected to accelerate following “recent political developments” will help Kuwait’s economy overcome some challenges, according to the Central Bank of Kuwait (CBK). Kuwait faced multiple challenges in 2023 in the face of high inflation, rising global interest rates and bubbling geopolitical tensions in the region, according to CBK’s 12th […] October 4, 2024
Finance Kuwaiti lenders propose merger to create $50bn Islamic bank Boubyan Bank and Gulf Bank, two of the largest Kuwait-listed shariah-compliant lenders, are set to commence an initial feasibility study for a potential merger. The merged entity will be among the largest Islamic banks with more than $50 billion in assets. NewsletterGet the Best of AGBI delivered straight to your inbox every week NewsletterGet the […] August 1, 2024
Opinion Banking & Finance Strong results likely from Gulf banks – but there’s more to success than profit Expect healthy returns for 2023, yet look beyond the financials for 2024 January 26, 2024
Banking & Finance Boursa Kuwait hails increasing international investor appeal The CEO of Boursa Kuwait says he is seeing increased confidence from international investors in the stock exchange as net profit grew by over 13 percent to KD18 million ($59 million) in 2022. “We were successful in attracting institutional international investors, as total foreign turnover activity was up 29 percent, with a total traded value […] February 13, 2023
