Kuwait
Rates round-up: Zimbabwe cuts policy rate to 150%
Azerbaijan raises rates 25bp; Qatar bucks Gulf trend; and more
People: October to December 2022
A round-up of central bankers in the news and on the move during the past three months
Kuwait breaks pattern by holding rates after Fed hike
Five other Gulf states, including Saudi Arabia and UAE, raised policy rates to match Fed
People: Kuwait appoints first woman deputy governor
New deputies in Sri Lanka, Ireland and Zimbabwe; Turkish MPC member dies; and more
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
BAM governor speaks about Covid-19, Fed tightening, BIS membership, regional co-operation and inclusion
Kuwait raises policy rate 25bp
Central bank usually times increases to match FOMC meetings
Gulf central banks increase rates in line with Fed
Five banks raise rates 75bp, while Kuwait orders 25bp increase due to different currency peg
Gulf central banks raise rates after Fed hike
Qatar, UAE and Bahrain make 75bp hikes, while Kuwait raises by 25bp and Saudi 50bp
Central banks follow Fed with rate hikes
Several central banks have raised their policy rates in response to the Federal Reserve hike
Kuwait’s government names new central bank governor
Basel Al-Haroun will begin five-year term on April 1
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
BIS chief speaks about policy trade-offs at a critical time, tech collaboration, tackling NBFIs and the dearth of ‘green’ assets
Kuwait launches new interbank payment system
Transactions will be instantaneous and payment data encrypted, governor says
People: Kuwait’s sovereign wealth fund gets new managing director
Korean president nominates head of financial supervisor and EBRD gets new corporate strategy chief
Third parties often develop RTGS technology
Seventy-one percent of respondents said technology underpinning RTGS system was developed by a third party
People: Georgia names new vice-governor
IMF appoints director of HR; Kuwaiti emir makes delayed board appointments; and more
US court finds Iranian central bank liable in terrorism suit
Plaintiffs sued Iran and Syria in US court for damages in 2015 Hamas attack
Recipe for a chief (fin)tech officer
Private-sector experience, a knowledge of supervision and a zest for innovation are key ingredients
Kuwait dispute leaves SWF without managing director or full board
Fiscal battle between monarch and parliament keeps top positions at sovereign wealth fund vacant
Kuwaiti central bank orders local national quota for bank managers
Central bank says 70% of management of local banks must be Kuwaitis by 2023
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting rules
Kuwait’s central bank should relax rate caps – IMF
New legislation will encourage nationwide credit rating system, fund staff say
IMF calls on Kuwait to improve crisis management
Financial sector assessment praises recent reforms, but also sees room for improvement
Central Bank of Kuwait overhauls core banking system
System provided by Tata automates key central bank operations
Islamic finance can tackle global instability – Kuwait’s Al-Hashel
Amid “excessive” risk-taking, Mohammad Al-Hashel suggests Islamic finance could help restore stability