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Central Bank of Kuwait

Coordinates: 29°22′39″N 47°58′17″E / 29.3774°N 47.9714°E / 29.3774; 47.9714
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Central Bank of Kuwait
File:Central Bank of Kuwait (emblem).jpg
HeadquartersKuwait City
Coordinates29°22′39″N 47°58′17″E / 29.3774°N 47.9714°E / 29.3774; 47.9714
Established30 June 1969; 55 years ago (1969-06-30)
GovernorMohammad Al Hashel
Central bank ofState of Kuwait
CurrencyKuwaiti dinar
KWD (ISO 4217)
Websitewww.cbk.gov.kw

The Central Bank of Kuwait offers a strict currency system on behalf of the State of Kuwait. The bank regulates Kuwaiti stock market along with the Kuwait Stock Exchange, the Ministry of Commerce and Industry and the Ministry of Finance.[1]

Overview

It was established on 30 June 1969.[2] The bank launched Financial Intelligence Unit in 2003.[3]

In August 2011, following reports that some members of the Kuwaiti National Assembly had received millions of dinars to their accounts, opposition MP Musallam Al-Barrak called for the bank's governor to resign.[4] Salem Abdulaziz Al Sabah served as the governor of the bank until February 2012.[5][6] Dr. Mohammad Al Hashel succeeded Sabah as governor in March 2012 and Yousef Al Obaid as deputy governor in May 2012.[7]

References

  1. ^ 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). doi:10.1080/096031001300313910. Retrieved 30 December 2013.
  2. ^ "Index". Central Bank of Kuwait. Retrieved 30 September 2014.
  3. ^ "Synopsis of Kuwait's Actions to Combat Terrorist Finance". Wikileaks. 23 February 2005. Retrieved 10 September 2014.
  4. ^ "Central bank governor of Kuwait faces ultimatum from lawmaker". Global Banking News  – via HighBeam Research (subscription required) . 25 August 2011. Retrieved 2 November 2012.
  5. ^ "About CBK: Organization". Central Bank of Kuwait. Retrieved 8 February 2011.
  6. ^ 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.
  7. ^ "Kuwait to take measures to cut spending - cenbank". Arabian Business. Reuters. 1 October 2012. Retrieved 11 October 2013.


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