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الراي
Hamza Abbas, first governor to sign dinar
Hamza Abbas Hussein was the first governor of the Central Bank of Kuwait. He is described as one of the founders of Kuwait's economic and monetary structure and played a major role in establishing and developing the banking and monetary system. He led the bank from 1973 to 1983, during which he faced significant challenges, including the Climate Market crisis. He was among the key architects of the policy to detach the Kuwaiti dinar from the US dollar in 1973, which was based on a weighted basket of currencies. This approach helped stabilize the currency and enabled the achievement of sustainable monetary policies. He also contributed to the development of important institutional frameworks, and his policies proved effective across generations, leaving a legacy in Kuwait’s banking and economic development. He passed away at the age of 92, leaving behind a career considered a cornerstone in Kuwait’s financial and monetary history.
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