regulation

CBK E-Payment Services Chapter 1 — Organisational Governance

Issuing bodyCBK
CountryKuwait
RegionNational
E-paymentFinancial RegulationOrganizational Governance

This document from the Central Bank of Kuwait (CBK) introduces updated instructions regulating electronic payment of funds, replacing Resolution No. 44/430 of 2018. It mandates that relevant entities take necessary actions to comply with the new amendments within three months of the effective date. The resolution aims to provide a framework for electronic payment services.

Key requirements
  • Comply with the updated Instructions Regulating the Electronic Payment of Funds as per Resolution No. 45/471/2023.
  • Revoke any provisions that contravene the new instructions.
  • Implement necessary actions to fulfill the requirements of the amendments within 3 months from the date of coming into force.
Applies to: Local Banks, Financing Companies, Exchange Companies, and Electronic Payment Infrastructure Service Providers and their Agents in Kuwait
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