BrandWikiReturn

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]

Overview

It was established on 30 June 1968,[5] succeeding the Kuwait Currency Board that had been created in 1 April, 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

Governors of the Central Bank of Kuwait.[10]

  • Hamza A. Hussein (12 September 1973 – 11 September 1983)
  • Abdulwahab Al-Tammar (1 November 1983 – 30 September 1986)
  • Salem Abdulaziz Al Sabah (1 October 1986 – 11 February 2012; resigned)
  • Mohammad Al-Hashel (1 April 2012 – 31 March 2022)
  • Basel Ahmad Al-Haroon (1 April 2022 - present)

See also

  • List of tallest buildings in Kuwait
  • List of central banks
  • List of financial supervisory authorities by country

External links

References

  1. Jan Weidner. The Organisation and Structure of Central Banks Katalog der Deutschen Nationalbibliothek, 2017^
  2. Central Bank of Kuwait: Profile^
  3. Fawaz Karami. CBK: local banks offered USD 8.9bln-worth credit facilities to businesses in 100 days Kuwait News Agency, 22 June 2020, retrieved 19 September 2020^
  4. Nabeel Al Loughani, David Chappell. Modelling the day-of-the-week effect in the Kuwait Stock Exchange: a nonlinear GARCH representation Applied Financial Economics, 2001^
  5. Index Central Bank of Kuwait, retrieved 30 September 2014^
  6. 06.10.21 www.cbk.gov.kw, retrieved 2024-05-30^
  7. About CBK: Organization Central Bank of Kuwait, retrieved 8 February 2011^
  8. Louise Armitstead. Kuwait's central bank boss Sheikh Salem Abdulaziz Al Sabah quits after criticising state The Telegraph, 13 February 2012, retrieved 11 October 2013^
  9. Kuwait to take measures to cut spending - cenbank Arabian Business, 1 October 2012, retrieved 11 October 2013^
  10. Former Governors cbk.gov.kw^