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Central Bank of Kuwait issues circular to all local banks asking for data on SMEs

March 24, 2019

Central Bank of Kuwait issues circular to all local banks asking for data on SMEs

KUWAIT CITY, March 23: The Central Bank of Kuwait has issued circular asking local banks to provide data on the SMEs on a quarterly basis – the SMEs that are being funded by them, reports Al-Rai daily quoting related sources.

The sources pointed out that the data requested by the Central Bank, is part of its efforts to establish"... Continue Reading

CBK to distribute 20% cash dividends, 10% bonus shares

March 24, 2019

CBK to distribute 20% cash dividends, 10% bonus shares

KUWAIT: Commercial Bank of Kuwait (CBK) held its Annual General Assembly (AGM) yesterday and approved the Board of Directors’ recommendation of distributing 20 percent cash dividends and 10 percent bonus shares to shareholders.

Sheikh Ahmad Duaij Jaber Al-Sabah, CBK Chairman, opened the meeting by welcoming the shareholders"... Continue Reading

Kuwait Banking Association seeks deadline extension on hiring 70 % national workforce in sector

March 20, 2019

Kuwait Banking Association seeks deadline extension on hiring 70 % national workforce in sector

KUWAIT CITY, March 19: The Kuwait Banking Association (KBA) has asked the Minister of State for Economic Affairs, Maryam Aqeel, to extend the date of national employment rate of an estimated 70 percent in banks to January 2020 instead of July 2019, reports Al-Rai daily.

The Association said the proposed extension will give banks"... Continue Reading

Commercial Bank of Kuwait launches ‘Tijari Pay’ money transfer service

March 20, 2019

Commercial Bank of Kuwait launches ‘Tijari Pay’ money transfer service

KUWAIT: As part of digitizing all banking services for its customers, Commercial Bank of Kuwait (CBK) has announced the launch of its innovative service, a first in Kuwait and the region, ‘Tijari Pay’ to transfer money using QR Code technology.

During a press conference that was held yesterday at JW Marriott Hotel,"... Continue Reading

Warba Bank partners with Boodai Aviation

March 20, 2019

Warba Bank partners with Boodai Aviation

KUWAIT: Warba Bank announced yesterday a new partnership with Boodai Aviation Group on funding healthcare and medical treatment abroad during a press conference held at The Avenues. This partnership is through the medical tourism section of Souk Safar, which is specialized in providing all services for medical treatment abroad. According to this partnership, all those seeking medical treatment abroad can"... Continue Reading

Fintech will radically improve financial health of people in the Gulf, say experts

March 20, 2019

Fintech will radically improve financial health of people in the Gulf, say experts

FinTech will radically improve the financial health of the people of the Gulf through access to next-generation banking services, says Mr. Simon Galpin, Managing Director of Bahrain Economic Development Board. He was speaking at Finnovex ME 2019, a one-day conference on financial innovation and excellence, held in Dubai.

“FinTech"... Continue Reading

Foreign banks unable to Kuwaitize 70 pct of jobs

March 19, 2019

Foreign banks unable to Kuwaitize 70 pct of jobs

KUWAIT CITY, March 18: Foreign banks have reportedly said that they are not yet ready to raise the national employment rate to at least 70 percent at all levels of employment, including executive positions, reports Al-Rai daily quoting reliable official sources.

The sources pointed out that the foreign bank branches in a coordinated"... Continue Reading

Global Finance names NBK ‘Best Bank in Kuwait 2019’

March 19, 2019

Global Finance names NBK ‘Best Bank in Kuwait 2019’

KUWAIT: National Bank of Kuwait (NBK) was named the “Best Bank in Kuwait – 2019” by Global Finance, as it unveiled its 26th annual listing of the best banks in 150 countries.

Winners in the World’s Best Banks Awards 2019 were selected based on objective criteria considering the following aspects: growth"... Continue Reading

Gulf Bank partners with Dell to drive regional innovations

March 19, 2019

Gulf Bank partners with Dell to drive regional innovations

KUWAIT: Gulf Bank, one of the leading financial institutions in Kuwait, yesterday announced their strategic agreement with Dell Technologies for a digitally transformative project. Taking significant steps towards sustaining business continuity and scalable data mobility, the bank will leverage industry-leading storage management and data protection solutions by Dell Technologies, to ensure maximum return"... Continue Reading

Kuwait money supply at $27bn: CBK

March 14, 2019

Kuwait money supply at $27bn: CBK

KUWAIT: Money supply in its broad concept (M2) dropped 0.1 percent last January, in contrast to December, where it posted KD 38.5 billion ($127 billion), according to the Central Bank of Kuwait (CBK). Private sector’s deposits in local banks dropped, in January, by 0.3 percent, amounting to KD 34.2 billion ($112 billion).

Those"... Continue Reading

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