The Central Bank of Kuwait.

KUWAIT: The Central Bank of Kuwait yesterday announced the maintenance of its information security certification ISO/IEC 27001:2013. This main global standard specifies the requirements for establishing, implementing, maintaining and continually improving data security management systems within the context of the organization, particularly amid challenges posed by rapid developments in the banking and financial services sectors.

This comes after years of standardized practices in information security by the CBK. It is a testament that the Bank satisfies all technical criteria for this global standard. It also stresses that CBK’s data security management system meets the requirements for protection of information and data centers and enhances the information security level throughout the bank.

The certificate covers areas of human resources, technical and information centers, and information technology services and users of such services at CBK Headquarters. ISO 27001 contributes to the development and monitoring of information security systems through the analysis and examination of systems and evaluation of their importance, as well as through the assessment of risk expected and provision of technical or operational solutions to help manage risk efficiently and effectively.

The CBK had listed ISO 27001 certification within the requirements of the “Cyber Security Framework for the Banking Sector in the State of Kuwait”, requiring local banks to secure this certification in the areas of information security, operational systems, networks, policies, and measures related to information technology. The CBK requires banks to maintain and renew this certification and to provide evidence to that effect through a recognized authority.

This all falls within the bank’s strategy aiming to bolster the resilience of the banking sector’s cyber and information security. The CBK is always keen to develop digital systems and infrastructure, be that on the bank’s or the sector’s level, in line with international best practices that would enhance operational efficiency across all fields of banking and finance within the State of Kuwait. – KUNA