Regulatory Alerts2025-01-21
Added · Updated
Circulars for Regulating the Electronic Payment of Funds
The Central Bank of Kuwait has issued a comprehensive series of circulars mandating standardized operational, financial, and cybersecurity controls for local banks and electronic payment infrastructure providers. These directives require monthly card fraud reporting, prohibit end-user fee collection for e-payment services, and establish strict limits, validity periods, and continuous monitoring for electronic payment links and Buy Now Pay Later services. Regulated entities must also adhere to enhanced anti-money laundering protocols, appoint qualified leadership, maintain business continuity standards, and submit timely financial statements to ensure robust consumer protection across Kuwait’s digital payment ecosystem.
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