'Central Bank': Kuwait Deals with the Current Landscape from a Position of Strength

The Central Bank of Kuwait, in collaboration with Global Finance magazine, hosted a closed-door banking roundtable featuring a select group of Kuwaiti banks to discuss recent economic and financial developments at the global, regional, and local levels, and their implications for the Kuwaiti economy.

The roundtable opened with introductory remarks by Central Bank Governor Bassel Al-Haroun, who noted that Kuwait is navigating the current landscape from a position of strength, bolstered by a robust external position, a well-established monetary policy framework, and a banking sector characterized by strong capital bases and ample liquidity. These fundamentals enable the economy to absorb shocks and respond effectively to changing conditions.

Following the opening remarks, the discussion addressed a range of issues concerning local economic prospects amid rapid global and regional economic and geopolitical developments, as well as progress made in the path toward economic diversification and the role of the banking sector in supporting private sector growth and productive economic activities.

The discussions also covered several areas expected to shape the future landscape of the financial sector, including the development of capital markets and housing finance, rapid advancements in technology, artificial intelligence, and cybersecurity, as well as issues related to sustainability and sustainable finance.

This roundtable is part of an ongoing dialogue regarding the opportunities and challenges facing Kuwait’s economy and financial sector, and the transformations that can contribute to strengthening the resilience of the banking sector and its role in supporting sustainable economic development.