Press Releases
New Extension of the Real Time Gross Settlement System’s (KASSIP) Working Hours
As part of CBK’s efforts to develop the banking sector and improve its banking services to raise the efficiency of payment systems as being a main anchor in maintaining monetary and financial stability in the State of Kuwait, and in light of the roles and responsibilities entrusted to CBK to develop payment systems and ensure the soundness and security of financial transactions. The Central Bank of Kuwait (CBK), the operator and regulator of the national payment systems’ infrastructure, issued a circular to all local banks on 14/2/2024 extending the working hours for the Real Time Gross Settlement System (KASSIP), for an additional hour, starting Tuesday 20/02/2024.
It is worth noting that the said extension will allow local banks’ customers to carry out financial transfers via electronic banking channels until 5:45 p.m., with the aim of enhancing the quality of financial services provided to the public in a manner that meets the needs of several segments of the society, as well as to serve all sectors of the national economy.
