Retail Payment System (Knet)

The Shared Electronic Banking Services Company (K-net) was established in 1992.

The company is owned by the following banks:

  • National Bank of Kuwait
  • Commercial Bank of Kuwait
  • Gulf Bank
  • Al Ahli Bank of Kuwait
  • Ahli United Bank
  • Kuwait International Bank
  • Bank of Bahrain and Kuwait
  • Kuwait Finance House (Baitek)
  • Burgan Bank
  • Boubyan Bank
  • Warba Bank

The board of management consists of members to be nominated by the owning banks; The Chairman and Deputy Chairman are selected based on unanimous vote by the members of the board.

The company started to provide its services in 1994, which include

  • The Kuwaiti Network.
  • Point of Sale Service.
  • Integrated Point of Sale Service.
  • Off-Site ATM's.
  • Connection with the GCC.
  • The Electronic Payment Gateway Project.
  • Cheque book printing.
  • E-Gov services.