Press Releases

06.09.22Press Statement

CBK Sets to Launch an Advanced Portal to Process Banking Sector Requests Digitally

In accordance with its digital strategy to create a business environment that underpins the fast-paced advancements in the banking industry and to ensure the banking system ability to fulfil its duties in a highly competitive atmosphere, the Central Bank of Kuwait (CBK) announced that it sets to launch an advanced and improved banking sector digital portal.

In a statement, the CBK Governor, Basel A. Al-Haroon, said that the planned digital portal will speed up request processing between the CBK and the banking sector to improve efficiency and quality of service offerings. The launch of the improved portal is scheduled to take place gradually over the coming period.

The Governor also added that the first phase is focused towards the banking sector, and will provide a series of e-services targeted to minimize paper-based requests, a pre-set timeframe to completion, speed up the operational processes, and enhance decision-making capabilities. He added, that this step is part of a larger digital transformation strategy, along with other services planned to be rolled out.

The Governor concluded by stressing that the CBK shall continue its efforts in keeping pace with technical advancements, promoting digital transformation and developing operational efficiency at both CBK and its regulated entities.

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