Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Our Strategy
Financials
Overview
Quarterly Reports 2010
Annual Report 2009
Annual Report 2008
Annual Report 2007
Annual Report 2006
Annual Report 2005
Annual Report 2004
Annual Report 2003
Annual Report 2001
Previous Quarter Results
Pillar Disclosures
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Investor Relations
Financial News
FinancialNews
15-08-22
Central Bank of Kuwait raise discount rate for 5th time in 2022
(MENAFN) As shown by the most recent banking figures the Central Bank of Kuwait (CBK) increased the discount amount for the fifth time in 2022 by nearly a .25 percent, going from 2.5 to 2.75 percent, with the goal of sustaining the power of the dinar, growing the deference among the local discount amount and the US interest from its lowest rate in a century.
The Central Bank also explained that the highest limits for interest rates on lending transactions in dinar, putting the additional interest for commercial lending dealings and additional methods of lending with a period of no further than a year at 5.25 percent, and a period of over one year at 6.75 percent, whereas setting the interest on consumer loans and housing at 5.57 percent.
Bouresli stated that since the Kuwaiti dinar is incompletely pegged to the US dollar, there is going to surely be a domestic consensus to increase the interest rate in tandem with the raise in the US interest rate by the Federal Reserve.
She also noted that “The CBK has increased the rate at the right time as the world is experiencing unprecedented wave of inflationary pressures. In order to tame spiraling inflation, it is imperative to activate monetary policies, and raising the interest rate is one of the main tools to check prices.”
MENAFN15082022000045014228ID1104696325
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us