Kuwait, 27 September, 2024 : The Central Bank of Kuwait (CBK) has published its Financial Stability Report for 2023, aiming to enhance transparency and provide reliable statistics related to the country's financial and banking sector.
Governor Basel Al-Haroon highlighted that this twelfth edition of the report details significant developments in Kuwait's financial system amid a backdrop of tightening global monetary policies to combat rising inflation. The year also saw failures in several banks in the US and Europe, alongside increasing geopolitical tensions.
The report analyzes local and global economic trends, delves into the Kuwaiti banking sector, and assesses market, credit, liquidity, and operational risks. It reviews banking profitability and solvency, as well as advancements in payment and settlement systems.
Additionally, the report addresses emerging issues such as the CBK’s measures to mitigate banking sector liquidity risks and combat digital financial fraud. It also outlines the bank's macroprudential framework and recent updates to regulations governing electronic payments, which were issued in May 2023.
Interested parties can access the full Financial Stability Report on the Central Bank of Kuwait's website.
Source : www.zawya.com
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