Bank strengthens and consolidates nat’l sentiments and belonging

KUWAIT CITY, Feb 23, (KUNA): The Central Bank of Kuwait (CBK) has always been eager to mark the country’s national occasions in a special manner by means of minting commemorative coins and banknotes bearing creative inscriptions of national emblems, and gold and silver engravings. Since it was established, the CBK has issued a total of 40 gold and silver coins and commemorative pieces marking unforgettable occasions that would remain engraved in the national memory, only to strengthen and consolidate national sentiments and belonging.

Over recent years, the National Day and the Liberation Day, which fall on February 25th and 26th respectively, have had the lion’s share of the CBK’s minted coins, based on their paramount historical and national significance. The CBK produced its maiden coin in 1976 to mark the 15th anniversary of the National Day, bearing on the obverse side a joint image of Sheikh Abdullah Al-Salem and Sheikh Sabah Al-Salem, while inscribing national symbols, including Kuwait Wall, oilfields and a merchant ship, on the reverse. In 1981, the CBK issued a couple of pieces on the occasion of the 20th anniversary of the National Day; the first weighing 28,28 gm of silver while the second weighing 15,98 gm of 22 karat gold.

Anniversary
The third coin was produced in 1986 to mark the 25th anniversary of Kuwait’s National Day. Weighing 19,966 gm of 22 karat gold, the piece bore on the obverse side inscriptions of National Assembly (Kuwait’s parliament), which is deemed the symbol of politics and democracy in the country, and a boum ship and pearl divers, on the reverse side.

Following the liberation of Kuwait from the Iraqi invasion, the CBK minted a set of coins marking the Kuwaiti people’s sacrifices and the country’s liberation. In 1991, a national coin in both gold and silver forms was minted on the occasion of the first anniversary of the liberation of Kuwait, with “Free Kuwait” inscriptions being on one side and some Quranic verses on the other side. In 1996, the CBK introduced a new couple of gold and silver pieces to commemorate the 35th anniversary of the National Day, followed by two more later in the same year to celebrate the fifth anniversary of the Liberation Day. More coins were minted in 2001 and 2006 to mark the country’s national festivals. It then issued a heptagonal gold and silver piece bearing engravings of Kuwait Towers to celebrate the Golden Jubilee of the National Day. By Fawaz Karami