Regulatory Alerts2019-04-24
Instructions for Regulation of the Electronic Payment of Funds
The Central Bank of Kuwait has issued regulatory instructions establishing a comprehensive framework for electronic payment infrastructure providers and their agents. The mandate requires all operators to enroll in a central register, meet specific paid-up capital thresholds, and submit a one hundred thousand Kuwaiti Dinar letter of guarantee. Existing entities must regularize their status within twelve months, while the new rules standardize operational procedures, risk management, data confidentiality, and customer dispute resolution across all electronic payment channels.
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