The Central Bank of Kuwait approves partial raise in staff salaries

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KUWAIT CITY, Nov 4: The Central Bank of Kuwait (CBK) Board of Directors has approved a partial raise in the salaries for its employees within the permissible margin which was approved by the Civil Service Commission in 2007, reports Al-Rai daily quoting informed sources.

The sources pointed out the decision of the Central Bank which will be activated next year, came in response to the successive developments imposed by the global crisis and the need to confront its repercussions on central banks demanding the development of their human resources on one hand and to address the problem of efficient national manpower to prevent them from seeking better prospects elsewhere.

The sources pointed out the decision by the Central Bank to partially increase the salaries of its employees is of particular importance, especially after what the bank witnessed over the past seven years during which about 300 personnel have moved to other government institutions which offer better financial incentives.

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