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Kuwait Events

Central Bank of Kuwait governor to quit

Central Bank of Kuwait governor to quit
The Governor of the Central Bank of Kuwait Dr. Muhammad Al-Hashel decides to leave his post at the end of his current tenure.

Credit facilities to customer increases, IBK reports

Credit facilities to customer increases, IBK reports
Kuwaiti banking sector provided credit facilities to customers, according to the Industrial Bank of Kuwait reports.

Banks in Kuwait lure customers with interest free loans

Banks in Kuwait lure customers with interest free loans
Banks in Kuwait lure customers with interest free loans amounting to KD 70,000.

NBK starts selling dollar senior bonds - document

NBK starts selling dollar senior bonds - document
National Bank of Kuwait has given initial price guidance for six-year U.S. dollar-denominated bonds of around 115 basis points over U.S. Treasuries.

Boursa Kuwait launches ESG reporting guide

 Boursa Kuwait launches ESG reporting guide
Boursa Kuwait launches ESG reporting guide to drive corporate sustainability in financial markets

Central Bank launches ‘KASSIP’

Central Bank launches ‘KASSIP’
Central Bank launches ‘KASSIP’ as part of Kuwait national payments system project

Agility set for first independent digital bank license

Agility set for first independent digital bank license
Kuwait-based logistics company Agility - one of the largest in the MENA region- has applied for a licence to establish a digital bank.

Kuwait International Bank completes sale of NMC Health

Kuwait International Bank completes sale of NMC Health
Kuwait International Bank completes the sale of its exposure in troubled UAE healthcare group, NMC.

KIB invests in professional development

KIB invests in professional development
KIB invests in professional development as part of the Bank’s top-level strategy focused on human capital development across all levels of its organization.

Kuwait plans spending cuts on wage subsidies

Kuwait plans spending cuts on wage subsidies
Kuwait records its highest financial deficit ever amounting to 10.6 billion Kuwaiti dinars. The budget deficit will result in government spending cuts of at least 10 percent.

Kuwait ordered a spending cut from current budget

Kuwait ordered a spending cut from current budget
Kuwait's Cabinet says it has ordered a spending cut from current budget of at least 10%

Kuwait Names Al-Ghunaiman to Head $700 Billion Wealth

 Kuwait Names Al-Ghunaiman to Head $700 Billion Wealth
Kuwait named Ghanem Al-Ghunaiman as the new managing director of its $700 billion sovereign wealth fund.

Kuwait Finance House Q2 profit more than triples

Kuwait Finance House Q2 profit more than triples
Kuwait Finance House net profit for the Q2 more than tripled due to a decrease in provisions and impairments.

CBK chief calls for reforms to ensure stability

CBK chief calls for reforms to ensure stability
Kuwait central bank governor calls for urgent reforms to ensure stability.

Kuwait’s $134 Billion Pension Fund has record gains

Kuwait’s $134 Billion Pension Fund has record gains
Kuwait’s Public Institution for Social Security had its best ever annual performance, emerging as a new regional investment powerhouse.

Kuwait’s GDP declines in 2020

Kuwait’s GDP declines in 2020
Kuwait’s GDP declined by 8.9 percent in 2020 in contrast to 2019, where the estimated value with constant prices amounted to KD 36 billion (USD 118.8 billion).

CBK issues warning against digital currencies

 CBK issues warning against digital currencies
Digital currencies aren’t real currencies, are highly risky and they pose a threat to the global financial system, the Central Bank of Kuwait has warned.

Kuwait FM discusses cooperation with US,Tunisian envoys

Kuwait FM discusses cooperation with US,Tunisian envoys
Kuwait Minister of Finance Khalifa Hamadah discusses cooperation with the US and Tunisian ambassadors

Kuwait may take 4 years to introduce personal taxes

Kuwait may take 4 years to introduce personal taxes
Kuwait may take 4 years to introduce personal taxes. Political gridlock and a lack of expertise hinder government plans

Fitch Affirms National Bank of Kuwait at AA-

Fitch Affirms National Bank of Kuwait at AA-
Fitch Ratings has affirmed National Bank of Kuwait Long-Term Issuer Default Ratings at 'AA-' with Negative Outlooks.

Kuwait IFA gets to reschedule paying off its $65m debt

Kuwait IFA gets to reschedule paying off its $65m debt
Kuwait's IFA gets more time to pay off $65m debt burden. This will now be paid off over 5 years as part of agreement with a 'foreign bank'.

Kuwait's cabinet has new oil, finance minister

Kuwait's cabinet has new oil, finance minister
Kuwait’s emir approved a new cabinet that included new ministers of oil and finance for the OPEC member state which is mired in its worst economic crisis in decades.

Expats take out over 4 billion Kuwaiti dinars in loans

Expats take out over 4 billion Kuwaiti dinars in loans
Banking sources have estimated that expats have taken out a total of 4 billion Kuwaiti dinars in loans.

Kuwait banks: no waiver of loans for expats

Kuwait banks: no waiver of loans for expats
While many expats have started leaving Kuwait due to expired visas, some banks have begun the process of prosecuting those with unpaid loans.

Moody’s downgrades Kuwait’s credit rating to A1

 Moody’s downgrades Kuwait’s credit rating to A1
Moody’s Investors Service downgrades Kuwait’s credit rating by two notches to A1 from Aa2; changes outlook to stable.
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