Regulatory Alerts2019-04-24
Instructions for Regulation of the Electronic Payment of Funds
The Central Bank of Kuwait issued Resolution No. 44/430 establishing a comprehensive regulatory framework for electronic payment of funds, mandating that all operators and agents enroll in an official register. The instructions set minimum capital thresholds of KWD one million for Infrastructure Providers and KWD 20,000 for Agents, alongside a mandatory KWD 100,000 Letter of Guarantee and strict data confidentiality requirements. Existing operators must regularize their status within twelve months, while all registered entities must comply with risk management standards, daily transaction limits, and clear settlement procedures through local banks.
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