CBK organizes inaugural Financial Stability Report 2020 symposium
KUWAIT CITY, July 15: The Central Bank of Kuwait (CBK) is organizing an inaugural symposium unveiling the Financial Stability Report 2020, on Monday, 26 July, at 10:00 am. The event planned promotes transparency and encourages informed public discourse on topics related to the Kuwaiti banking and financial sector.
The Governor of the Central Bank of Kuwait, Dr Mohammad Y. Al-Hashel, stated that this symposium aims to strengthen engagement amongst all stakeholders concerned with monetary stability and financial stability in the country. Additionally, it shall provide reliable data and statistics to interested parties, in line with best international practices and within CBK’s concerted efforts to communicate with all public.
Dr Al-Hashel added that the event shall examine global and regional economic and financial developments and their ramifications. Local financial stability drivers, including the ability to withstand shocks and to supply credit, in addition to supporting the national economy, shall be detailed. In light of the unprecedented events experienced worldwide resulting from the Covid-19 crisis, this year’s report focuses on the efficiency and resilience of the banking system and its ability to successfully weather the first year of the crisis.
The Governor explained that the topics addressed in the report are organized in six chapters; the first sets the stage by examining global and regional economic developments, presenting key economic indicators to put into perspective the magnitude of the crisis. Chapter 2 gives an overview of the Kuwaiti financial system, highlighting key attributes and developments as the year progressed. Chapter 3 examines key risks faced by the banking
system, inspecting multiple angles of credit, liquidity, market, and operational risks faced by banks during the year and going forward. Chapter 4 exhibits the strength of local banks, analyzing both profitability and resilience to provide a robust assessment. Chapter 5 presents developments in local asset markets, namely, the real estate and equity markets and the potential risks to financial stability. Finally, chapter 6 examines payment and settlement systems, including the resilience of the payment infrastructure and the role e-payments played during the pandemic.
Due to the current health precautions taken in Kuwait, the event shall be livestreamed on zoom and will be available for playback on CBK’s social media channels. CBK invites interested parties to register and attend the event through the link: https://events.cbk.gov.kw