Central Bank of Kuwait

By: EconomyWatch   Date: 8 September 2010

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The Central Bank of Kuwait was established in 1969 with the objective of maintaining a stable monetary financial system in the State of Kuwait.

The bank replaced the Kuwaiti Currency Board. The setting up of the bank was in response to the need for keeping updated with both domestic and international economic happenings. The Capital of the Central Bank of Kuwait is five million Kuwaiti dinars, which is fully paid up by the Government. The bank was established with the following objectives in mind:

  • Issue the currency of Kuwait on behalf of the State of Kuwait
  • Formulate the credit policy to with a view to assist social and economic progress
  • Ensure the growth of the national income
  • Control and supervise the banking system in the country
  • To secure the stability of the currency and its free convertibility into foreign currency
  • To serve as banker to the government
  • To provide financial advice to the government

The Central Bank of Kuwait also encompasses three organizational divisions: the Governor of the CBK office, the Monetary Policy division, and the Organization and Management and Division.

The Central Bank of Kuwait acts as a banker and financial advisor to the government. On behalf of the Ministry of Finance, the bank is also responsible for issuing the instruments of general debt, such as treasury bonds and bills. Also, the bank disseminates information to the public, individuals and establishments who are interested in economic, financial, banking and monetary affairs.

In recent times the bank has witnessed tremendous growth and development, a fact reflected in the introduction of new activities and organization divisions.

The Address and Contact details of the bank is as follows:

Central Bank of Kuwait

Address: P.O. Box 526 13006-Safat KUWAIT
Phone No.: ++965-244 92 00 
Fax: ++965-246 48 87

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