Cross-Border Purpose of Payments Codes
Purpose of Payments Codes are standardized and unified codes to identify the reason and the purpose of a financial transaction, whether domestic or international. These codes play a key role in promoting transparency, facilitating the tracking of funds, ensuring the efficiency and accuracy of financial and banking reports.
The Purpose of Payments Codes were launched in the State of Kuwait on April 10, 2025, and are applied to all financial transactions executed through Local Payment Systems.
The Central Bank of Kuwait, along with all financial institutions, are committed to implementing these codes to strengthen the efficiency, security, and stability of the financial system.
