Kuwait
Kuwait market ready for more funds - central bank
KUWAIT - The Governor of Central Bank of Kuwait Sheikh Salem Abdulaziz Al-Sabah has said that the Kuwaiti market is developing considerably especially in the investment funds sector in the past two years.
Dollar tie-up won't affect currency says Kuwait
KUWAIT - Kuwait said yesterday a decision to link its currency fully to the dollar was not expected to weaken the dinar nor trigger inflation.
Kuwaiti dinar will be pegged to dollar
KUWAIT - Kuwait's national currency will be pegged to the US dollar starting 1 January, officials said on Monday.
Steps needed to curb money laundering in Kuwait
KUWAIT - Money laundering is illegal but some people manage to get away with it, yesterday disclosed Talal Al-Sayegh from the Central Bank of Kuwait during a lecture organised by the Institute of Banking Studies (IBS).
Kuwait to link dinar to dollar
KUWAIT - Kuwait, ending a 27-year-old policy, said yesterday it will fully link the dinar to the U.S. dollar from 2003 as part of a plan by six Gulf states to forge a single currency.
Central Bank of Kuwait - Annual Report 2000-2001
ANNUAL REPORT - The Central Bank of Kuwait has published its Annual Report for the year ended 2000-2001.
Kuwait reports use of bank notes decreasing
ARTICLE - Over the past few years the demand for charge cards provided by Kuwaiti banks has increased, and has coincided with an enhancement of knowledge surrounding " plastic money", in an attempt to convert Kuwait into a society that depends largely on…
Kuwait gov't reviews action on money-laundering
KUWAIT - The Deputy Prime Minister, Minister of State for Cabinet and National Assembly Affairs, Mohammed Deifallah Sharar said, in a Cabinet statement, that the council followed up on steps aimed at combating money-laundering and examined a report,…
Kuwait audit urged to verify 1999 CB cash dealings
KUWAIT - The parliamentary committee probing the Central Bank transactions during the period between 1 May and 31 July, 1999 met Tuesday with officials of the auditing office. The purpose of the meeting was to get familiar with the work mechanism to be…
Kuwait's c bank probe panel await gov't replies
KUWAIT - The parliamentary committee probing the Central Bank transactions during 1999 elections met Monday with the Minister of Information and Acting Minister of Oil, Sheikh Ahmad Al-Fahd and also the Deputy Prime Minister and Minister of Interior and…
Kuwait's central bank upgrades its internet site
KUWAIT - Kuwait's Central Bank (CBK) has launched its upgraded Internet site, accessible at www.cbk.gov.kw, CBK Governor, Sheikh Salem Abdul Aziz al Sabah, said on 5 November 2001.
Deputy head named at Bank of Kuwait
KUWAIT - Mustafa Al-Shimali has been appointed as head of the board of the Bank of Kuwait and the Middle East.
ABC Islamic to launch sharia credit cards
BAHRAIN - Bahrain-based ABC Islamic Bank, a wholly-owned subsidiary of Arab Banking Corporation, is in the process of establishing a vehicle for the marketing of sharia-compliant credit cards.
Gulf to make dollar peg to monetary union-report
BAHRAIN - Members of the Gulf Cooperation Council have agreed to adopt the U.S. dollar as the sole peg for a proposed single currency for the group, senior GCC official said in remarks published by Bahraini newspapers on Apr 22.
Qatar comes to defence of Lebanese pound with $60m
LEBANON - Qatar joined a Gulf Arab consortium in defending the Lebanese pound by pledging to deposit $60 million with Banque du Liban, local newspapers said on Apr 18.
Oman $50 million boost for Lebanese cbank reserves
LEBANON - Oman deposited $50 million with Lebanon's central bank on Apr 6 to boost foreign currency reserves and to express its support for the government's economic measures, reported the local Daily Star newspaper.
Kuwait cuts rate 0.5 point for 2nd time in a month
Kuwait's Central Bank on Feb 1, 2001, announced a 0.5 point cut in the discount rate for the second time in less than a month, taking it down to 6.25 percent. The bank, which announced the move in a statement to the official Kuwait News Agency (KUNA),…
Kuwait helps defend Lebanese pound with $100m
Kuwait has decided to deposit $100 million with Lebanon's central bank to help defend the Lebanese pound and raise depleted foreign reserves, the office of Prime Minister Rafik al-Hariri said on Jan. 25.Hariri's office said that the Kuwaiti Fund for Arab…
Kuwait proposes opening up to foreign banks
Kuwait's central bank governor said the bank is proposing an amendment to current banking laws to allow foreign banks to open branches in the country, a daily newspaper reported.
Kuwait to study rate changes after moves abroad
Kuwait's central bank, under pressure to cut the discount rate to help the economy and a sagging stock market, said on Tuesday it would decide on changes after studying the impact of expected interest rate cuts abroad.
Oman cenbank plans Electronic Fund Transfer system
Oman's central bank proposes to introduce Electronic Funds Transfer system to facilitate faster and accurate domestic inter-bank payments.