KUWAIT: The Central Bank of Kuwait (CBK) announced on Monday that the broad money supply (M2) recorded a slight monthly decline of 0.3 percent in May, reaching KD 41.7 billion (approximately $137.6 billion). In statistical tables released to Kuwait News Agency (KUNA), the CBK’s Economic Research Department indicated that private sector deposits in local banks in Kuwaiti dinars edged down by 0.1 percent to KD 38.3 billion ($126 billion), while foreign currency deposits by the private sector saw a sharper decline of 5.4 percent to KD 1.7 billion ($5.6 billion). The report further noted that local banks’ claims on the Central Bank, represented by CBK bonds, decreased by 7.5 percent to KD 1.2 billion ($3.6 billion).

Total assets of local banks also dipped marginally by 0.1 percent to KD 95.9 billion ($316 billion), while net foreign assets at local banks dropped by 3.4 percent to KD 14.8 billion ($48.8 billion). Meanwhile, time deposits held at the Central Bank remained stable during the month at KD 750 million ($2.5 billion). In contrast, cash credit facilities, which include loans extended by local banks, rose by 1.3 percent to KD 59 billion ($194.7 billion), reflecting continued credit growth.

The data also showed that financing of Kuwaiti imports increased by 2.4 percent to KD 734 million ($2.4 billion) in May. The average exchange rate of the US dollar against the Kuwaiti dinar saw a slight decline of 0.1 percent, settling at 306.8 fils. The CBK clarified that in its narrow definition, the money supply comprises cash in circulation and demand deposits used in everyday transactions. In its broader sense, it includes current money in addition to savings and time deposit accounts. — KUNA

KUWAIT: Undersecretary of the Ministry of Defense Sheikh Dr Abdullah Mishal Al-Sabah affirmed Monday that the ministry, under the guidance of the country’s wise leadership, considers proactive preparedness for crises and disasters a cornerstone for reducing their impact and ensuring the continuity of vital services — foremost among them, the health sector, which he described as the first line of defense for human life. Sheikh Abdullah made the remarks in a speech delivered at the opening of the “Principles of Disaster Preparedness in Healthcare” conference, organized by the Kuwait Medical Association (KMA) in cooperation with the Military Medical Services Authority at the Ministry of Defense and the Directorate of Medical Services at the National Guard.

He noted that the conference aims to bolster national preparedness in the healthcare sector by fostering knowledge exchange and enhancing coordination among relevant entities. Sheikh Abdullah highlighted the importance of honoring scientists and healthcare professionals who have contributed to the advancement of medical services at both local and international levels, commending their pioneering efforts in this essential field.

He further emphasized the continued cooperation between the Ministries of Defense and Health and the National Guard with other competent bodies and prominent medical institutions to strengthen emergency preparedness and response capabilities. He called for sustained collaboration and integration to ensure optimal readiness to face future challenges.

Officials take a group photos after the conference.- KUNA photos

Chairman of the Board of Directors of the Kuwait Medical Association

Sheikh Abdullah also lauded the efforts of the medical services departments at the Ministry of Defense, National Guard, and Ministry of Health, as well as the Kuwait Medical Association, for their concerted actions in tackling health crises with professionalism and efficiency. He stressed the importance of ongoing training, evaluating on-the-ground needs, and investing in human and technical resources to boost rapid and effective emergency response. Meanwhile, Chairman of the Kuwait Medical Association Dr Ibrahim Al-Tawala echoed similar sentiments, noting that cooperation with the Ministry of Defense and National Guard reflects a strong model of national synergy in serving Kuwait and empowering medical personnel to handle various challenges.

Dr Al-Tawala said the KMA has consistently prioritized training and development, organizing numerous conferences, workshops, and awareness programs across medical specialties. He revealed that during the first half of 2025, the Association held approximately 83 scientific medical events.—KUNA

underscoring their role in equipping healthcare professionals with the necessary skills to manage disasters and emergencies effectively — ultimately enhancing public safety and reducing risks. – KUNA

KUWAIT: HH the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah received at Bayan Palace on Monday Minister of Education Jalal Al-Tabtabaei, who presented to him the public high school results for the academic year 2024/2025. The minister also introduced to HH the Amir the new curricula, which bring into effect a new educational philosophy relying on knowledge, skills and principles. HH the Amir praised the efforts of those who developed the curricula with the purpose of building a better future and bolstering the educational system in the country. HH the Amir also wished the students success in their future endeavors.

HH the Amir also received at Bayan Palace on Monday visiting Deputy Chair of the British King’s Foundation Michael Jary and Executive Director for Education Dr Simon Sadinsky. Present at the meeting were Director General of the Kuwait Foundation for Advancement of Sciences Dr Ameenah Rajab Farhan and Director General of the Kuwait Direct Investment Promotion Authority Sheikh Meshaal Jaber Al-Ahmad Al-Sabah. — KUNA