Kuwait
Kuwaiti institutions under fire from Parliament
Members of parliament in Kuwait launched a fierce attack on the Central Bank of Kuwait (CBK) and the Kuwait Investment Authority (KIA), saying that some of their officials were deriving personal benefit from their decisions and investments.
No policy shift for currency, says UAE governor
Investors expecting the dollar-pegged dirhan to appreciate received a strong message yesterday from the governor of the United Arab Emirates central bank, Sultan Nasser Al Suwedi, who said "We rule out any change for the forseeable future".
Syria to abandon dollar peg in July
The governor of Syria's central bank, Adib Mayelah, announced that the country will abandon the Syrian pound 's peg to the dollar in an effort to stem rising costs and inflation.
Uncertainty surrounds Gulf monetary union
In the last week Kuwait and Oman have opted expand the range of currencies they peg their exchange rates to. These developments cast doubts over the gulf region's ability to meet its 2010 deadline for a monetary union.
Kuwait removes dinar's dollar peg
The central bank of Kuwait de-linked its currency, the dinar, from the depreciating dollar on 20 May and opted for an exchange rate mechanism tied to a basket of other currencies.
UAE's Al Suwaidi says GCC on target
UAE Central Bank Governor, Sultan bin Nasser Al Suwaidi, said Thursday 26 April the Gulf Cooperation Council (GCC) should meet its 2010 deadline for monetary union.
Sovereign wealth funds 'set to grow rapidly'
The first in-depth investigation into Sovereign Wealth Management, published Thursday 29 March, estimates excess reserves currently held by central banks in emerging market economies at between $1.5 trillion and $2 trillion, and suggests that this number…
BNM's Zeti at the INCEIF Strategic Partnership
In welcoming remarks at the INCEIF Strategic Partnership 2006 given on 14 December Dr. Zeti Akhtar Aziz of the Bank Negara Malaysia said one of the strategic steps that INCEIF has initiated is the forging into strategic alliances with the five takaful…
Central Bank of Kuwait - Annual Report 2005-2006
According to the Central Bank of Kuwait's Annual Report 2005-2006, the CBK continued its efforts aimed at boosting competition among the banking and financial system units during the fiscal year, by allowing foreign banks to open branches in the State of…
Gulf currency union may face delay
Plans by GCC member states to launch a single currency by 2010 face delays because some countries won't be able to make legal changes in time, the governor of the Central Bank of Kuwait said in an interview Tuesday 5 December.
Interview with Central Bank of Kuwait's al-Sabah
According to this recent interview published on the IHT's website, the governor of the Central Bank of Kuwait, Sheik Salem Abdul Aziz al-Sabah, is known by other central bankers as the "big survivor" and an "intelligent and balanced man."
Kuwait mulls stricter anti-money laundering laws
The Central Bank of Kuwait (CBK) will impose stricter anti-money laundering regulations to protect investments in this Islamic Gulf state, Kuwait-based newspaper Arab Times reported on Sunday 15 October.
Inflation major risk to GCC currency bid
According to this recent article published on the Trade Arabia website, petty politics and diverging inflation rates are the main risks to the Gulf's attempts to set up a monetary union by 2010.
Lebanese governor speaks out on economic threats
The governor of Lebanon's central bank, Raid Salameh, has spoken about the strains on the country's economic recovery.
Comments: Reserve diversification
Recent reports of the diversification official foreign exchange reserves in the Middle East have not gone unnoticed. Economists are starting to ask if the prospect of large-scale reserve diversification is back on the international agenda, following a…
ECB to advise GCC states
The European Central Bank will advise Gulf states on their plans for possible monetary union a spokesman for the ECB was quoted by AFX as saying on Tuesday 18 April.
Central Bank of Kuwait - Annual Report 04/05
According to the Central Bank of Kuwait's Annual Report 2004-2005, the fiscal year 2004/05 was fraught with domestic, regional and international developments and events.
ECB advice sought by Gulf Arab states
A senior official at the GCC said on Thursday 15 September that Gulf Arab states will seek help from the European Central Bank in establishing a monetary authority to oversee their planned single currency.
Central Bank of Kuwait - Annual Report 2003-2004
The Central Bank of Kuwait pursued its efforts in drawing and implementing monetary policy, as well as enhancing the programs for the supervision and oversight of the banking and financial system during the year, the report said.
UAE to host AGCC central bank
The United Arab Emirates (UAE) will be home to the central bank of the six states in the Gulf Cooperation Council (AGCC) which are working to set up a monetary union next year, the Kuwaiti finance minister said on Sunday 24 October, according to AFP.
Central banks 'must cede powers for GCC currency'
On Wednesday 13 October, Kuwait urged GCC states to be ready to cede some of the powers of their central banks to a unified institution to ensure the success of a planned common currency for the region.
Kuwait c bank 'panel' to monitor money-laundering
The Central Bank of Kuwait (CBK) is to establish a unit to monitor money-laundering operations, the Arab Times reports. The unit will be headed by the governor of the CBK Sheikh Salem Al-Sabah and will work in unison with the office of the Public…
CBK board given power to implement laws
The recently implemented Islamic Banks Law will give power to the central bank of Kuwait's Board of Directors to implement necessary laws and regulations with the aim of providing an atmosphere of healthy competition in the field of Islamic banking, the…
Kuwait Islamic Banking Law opens doors for others
An article in Arab News says Kuwait's long-awaited Islamic banking law leaves Saudi Arabia and Oman the only two Gulf Cooperation Council (GCC) states which do not have an Islamic banking law in place.