Regulatory Alerts2021-04-07
Central Bank of Kuwait Rules on Experience Requirements for Credit Information Companies Under Law No. 9 of 2019
The Central Bank of Kuwait issued Resolution No. 90-B/439/2019 to establish specific experience and qualification criteria for board members, chief executive officers, and deputy or assistant executives of credit information companies. The resolution mandates that nominees hold relevant university degrees or specialized certificates combined with five to ten years of banking, financial, economic, or technical experience, while allowing the Central Bank to grant degree exemptions based on proven competency. Credit information companies must obtain prior Central Bank approval for these appointments, with the regulator retaining the authority to verify professional and leadership capabilities through interviews and assessments.
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