Central Bank of Kuwait

The Central Bank of Kuwait (CBK[3]) is the central bank of Kuwait. It offers a strict currency system on behalf of the state. The bank regulates Kuwaiti stock market along with the Kuwait Stock Exchange, the Ministry of Commerce and Industry and the Ministry of Finance.[4]

Central Bank of Kuwait
بنك الكويت المركزي
HeadquartersKuwait City
Coordinates29.3774°N 47.9714°E / 29.3774; 47.9714
Established30 June 1969 (1969-06-30)
Ownership100% state ownership[1]
GovernorMohammad Al-Hashel[2]
Central bank ofState of Kuwait
CurrencyKuwaiti dinar
KWD (ISO 4217)
Reserves25 660 million USD[1]
Websitewww.cbk.gov.kw

Overview

It was established on 30 June 1969.[5] The bank launched Financial Intelligence Unit in 2003.[6]

Salem Abdulaziz Al Sabah served as the governor of the bank until February 2012.[7][8] Dr. Mohammad Al Hashel succeeded Sabah as governor in March 2012 and Yousef Al Obaid as deputy governor in May 2012.[9]

Governors

Governors of the Central Bank of Kuwait.[10]

  • Hamza A. Hussein (September 12, 1973 – September 11, 1983)
  • Abdulwahab Al-Tammar (November 1, 1983 – September 30, 1986)
  • Salem Abdulaziz Al Sabah (October 1, 1986 – February 11, 2012; resigned)
  • Mohammad Al-Hashel (February 11, 2012 – present)

See also

References
  1. https://d-nb.info/1138787981/34
  2. https://www.cbk.gov.kw/en/about-cbk/governor/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. Retrieved 19 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.
  5. "Index". Central Bank of Kuwait. Archived from the original on 31 October 2013. Retrieved 30 September 2014.
  6. "Synopsis of Kuwait's Actions to Combat Terrorist Finance". Wikileaks. 23 February 2005. Retrieved 10 September 2014.
  7. "About CBK: Organization". Central Bank of Kuwait. Retrieved 8 February 2011.
  8. Armitstead, Louise (13 February 2012). "Kuwait's central bank boss Sheikh Salem Abdulaziz Al Sabah quits after criticising state". The Telegraph. Retrieved 11 October 2013.
  9. "Kuwait to take measures to cut spending - cenbank". Arabian Business. Reuters. 1 October 2012. Retrieved 11 October 2013.
  10. "Former Governors". www.cbk.gov.kw.
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