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Kuwait Events

CBK requires banks to activate OTP even worth 100 fils

CBK requires banks to activate OTP even worth 100 fils
CBK directed banks to cancel the minimum amount for online purchases for value-store services.

Kuwait to see solid growth in spending in 2023

Kuwait to see solid growth in spending in 2023
Fitch report: Kuwait to see solid growth in spending in 2023.

Kuwaiti families spend KD 1625 a month on welfare

Kuwaiti families spend KD 1625 a month on welfare
Kuwaiti families spend KD 1,625 a month on welfare, entertainment, according to new report.

Kuwait is expected to hit 3.8% GDP growth

Kuwait is expected to hit 3.8% GDP growth
New report: Kuwait is expected to achieve a growth of 3.8 percent in the gross domestic product during the year 2023.

Average Kuwaiti family income approx KD 4,000 per month

Average Kuwaiti family income approx KD 4,000 per month
New survey: Average Kuwaiti family income approx KD 4,000 per month; Expat family’s average income KD 939.8 per month.

Kuwait budget deficit for FY 2023 - 2024 to pass KD 5BN

Kuwait budget deficit for FY 2023 - 2024 to pass KD 5BN
Ministry of Finance: The expected deficit in the State’s general budget for the next fiscal year (2023-2024) is estimated at 5.053 billion Kuwaiti dinars.

CBK asks exchange companies about high-risk transfers

CBK asks exchange companies about high-risk transfers
Central Bank of Kuwait requests exchange companies to provide it with a statement that includes “high-risk” customers.

Fitch affirms Kuwait at AA- with stable outlook

Fitch affirms Kuwait at AA- with stable outlook
The Fitch Ratings affirms Kuwait’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at AA- with a Stable Outlook.

Kuwait MoC to build complexes, malls, boost cash input

Kuwait MoC to build complexes, malls, boost cash input
Ministry of Communications to build complexes, malls, boost cash input so as to revitalize economy.

CBK - Annual interest on loans should not exceed 6.5%

CBK - Annual interest on loans should not exceed 6.5%
Central Bank of Kuwait: Annual interest on loans should not exceed 6.5%

550194 Kuwaitis obtain KD 14.7 billion in loans

550194 Kuwaitis obtain KD 14.7 billion in loans
Almost 550,194 Kuwaitis has obtained consumer and installment loans, according to Central Bank of Kuwait's latest statistics.

Six Kuwait banks join GCC Cross-border Payment System

Six Kuwait banks join GCC Cross-border Payment System
CBK: Six local banks have joined the GCC Cross-border Payment System in Kuwait.

IMF Staff Concludes Staff Visit to Kuwait

IMF Staff Concludes Staff Visit to Kuwait
An IMF mission held discussions with the Kuwaiti authorities in Kuwait City during December 11-18.

Kuwait gets $100m back from Bahrain

Kuwait gets $100m back from Bahrain
Kuwait gets $100 million from Bahrain as part of a corruption case.

New report - Hundreds claim e-fraud in Kuwait

New report - Hundreds claim e-fraud in Kuwait
Several citizens claim e-fraud in Kuwait. Fraudulent gang uses app to seize bank accounts

Expats health insurance revenue up by 15%

Expats health insurance revenue up by 15%
Health ministry: Revenues from expats’ health insurance in Kuwait up by 15% last year

Kuwait's external debt value increases in Q2, 2022

Kuwait's external debt value increases in Q2, 2022
Kuwait’s total external debt value increases in the second quarter of this year to reach KD 18.82 billion.

IRU suspends three insurance firms

IRU suspends three insurance firms
Kuwait Insurance Regulatory Unit (IRU) decided to suspend the activities of three companies until Sept 30.

Seven Kuwaiti banks among 1000 largest banks in world

Seven Kuwaiti banks among 1000 largest banks in world
Kuwait ranked fourth in terms of the number of banks that entered the list of the largest 1000 banks in the world.

Kuwait banks to keep close eye on accounts

Kuwait banks to keep close eye on accounts
Kuwait banks aims to keep close track on clients’ accounts.Steps taken for the development of a legal framework regulating the operations of social media influencers.

Finance ministry - Proposal to replenish Future Fund

Finance ministry - Proposal to replenish Future Fund
New proposal to deduct 10 percent of the revenues generated annually into the general budget for the benefit of the Future Generations Fund.

New mandatory health insurance for expats on visa 18

New mandatory health insurance for expats on visa 18
Dhaman: New mandatory health insurance for about two million expatriates working in the private sector (Article 18 visa) and their families.

CBK - local banks to Kuwaitize certain vital positions

CBK - local banks to Kuwaitize certain vital positions
Central Bank of Kuwait tells local banks to Kuwaitize certain vital positions.

Afya-3 health insurance available for Kuwaiti retirees

Afya-3 health insurance available for Kuwaiti retirees
Kuwaiti retirees can avail Afya-3 health insurance cards until Sept 15. Cards will be handed out to beneficiaries through 44 health centers.

KPTC capital cut from KD 49mn to KD15 million

KPTC capital cut from KD 49mn to KD15 million
Kuwait Public Transportation Company approves to reduce the company’s capital from KD 49 million to 15 million.
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