GRCLaw

CBK Law

Law No. (32) of 1968 Concerning Currency, The Central Bank of Kuwait and The Regulation of Banking

Law No. (32) of 1968 establishes the legal framework for the establishment and operation of the Central Bank of Kuwait (CBK) and governs currency issuance, banking regulations, and financial supervision within Kuwait. It includes amendments to address evolving economic and regulatory needs.

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Overview

This law provides the foundation for the State of Kuwait's financial and banking systems. It outlines the regulatory authority and responsibilities of the Central Bank of Kuwait, including currency issuance, supervision of banking institutions, and regulation of financial entities like finance companies, investment companies, and e-payment providers. Key provisions were later amended, such as those introduced under Decree Law No. (130) of 1977. The law aims to maintain monetary stability and support economic development in Kuwait. The official text is only available in Arabic, with an English translation provided for reference by CBK.

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