Central Bank of Kuwait

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Central Bank of Kuwait
بنك الكويت المركزي
Headquarters Kuwait City
Coordinates 29°22′39″N 47°58′17″E / 29.3774°N 47.9714°E / 29.3774; 47.9714Coordinates: 29°22′39″N 47°58′17″E / 29.3774°N 47.9714°E / 29.3774; 47.9714
Established 30 June 1968; 53 years ago (1968-06-30)
Governor Basel Al-Haroon[1]
Central bank of State of Kuwait
Currency Kuwaiti dinar
ISO 4217 Code KWD
Reserves 25 660 million USD
Website www.cbk.gov.kw

The Central Bank of Kuwait (CBK) is the authority responsible for issuing the Kuwaiti dinar and regulating banks and banking transactions in Kuwait. It was established on June 30, 1968, and began its duties on the first of April 1969. The bank carried out the tasks of the Kuwait Monetary Council, which in turn was established in 1960.

The Central Bank is managed by a Board of Directors including of the Governor of the Central Bank of Kuwait - Chairman, and the Deputy Governor of the Central Bank of Kuwait, each of whom is appointed by decree for a period of five years, subject to renewal. The board of directors also includes a representative of the Ministry of Finance, a representative of the Ministry of Commerce and Industry, in addition to four other members, appointed by decree for a renewable three-year period, with experience in economic, financial and banking affairs.

The current Governor of the Central Bank of Kuwait is Basel Al-Haroon.

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