The Central Bank of Kuwait is the body responsible for issuing the Kuwaiti dinar and regulating banks and banking transactions in Kuwait. The Central Bank of Kuwait was established on June 30, 1968, and commenced its duties on the first of April 1969, to carry out the tasks of the Kuwaiti Monetary Board, which in turn was established in 1960, in order to keep pace with the development of monetary policies and achieve economic development. The Central Bank of Kuwait is managed by a board of directors consisting of the Governor of the Central Bank of Kuwait - Chairman, and the Deputy Governor of the Central Bank of Kuwait, each of whom is appointed by a decree for a period of five years subject to renewal. The bank’s board of directors also includes a representative of the Ministry of Finance, a representative of the Ministry of Commerce and Industry, in addition to four other members, who are appointed by decree for a renewable period of three years, with experience in economic, financial and banking affairs. The current Governor of the Central Bank of Kuwait is Basil Ahmad Al-Haroun.
