Dr. Yaqoub Al Refaei, Minister of Finance of the State of Kuwait, affirmed the robust stability of Kuwait's financial and banking sectors, emphasising that both domestic and international capital transfers are proceeding smoothly without any impediments. He reassured the public that liquidity remains ample and confirmed there are no delays in the disbursement of public sector salaries.
The Kuwaiti Minister highlighted that the Central Bank of Kuwait (CBK) continues to guarantee all bank deposits for both citizens and residents across all types of accounts. This guarantee serves as a reassuring measure to boost confidence and maintain stability in the banking sector, the Kuwaiti News Agency (KUNA) reported.
Dr. Al Refaei also noted that the CBK has implemented a series of measures to enhance banks’ flexibility in managing liquidity. These measures include adjusting certain capital adequacy requirements, thereby providing the banking sector with greater capacity to deal efficiently and effectively with any unexpected financial changes.
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