Open Banking

The Central Bank of Kuwait (CBK) issued an Open Banking Regulatory Framework Draft with the aim to regulate the activity of open banking services, and introduce a suitable infrastructure for the Kuwaiti banking and financial sector by bolstering cooperation between local banks and FinTech firms in developing the sector and enhancing its financial services that support digitization and contribute to the growth of the national economy.

The Open Banking Regulatory Framework Draft comprises of supervisory legislations, and security, technical and operating standards in line with international best practices, enabling local banks to securely share customer data, based on the explicit customers’ consents, with the Open Banking Service Providers licensed by CBK for offering innovative products and services in the State of Kuwait.

• Click here to view the Open Banking Regulatory Framework Draft.

For feedback and/or comments regarding the Open Banking Regulatory Framework Draft:

• Supervised and regulated entities by CBK.
• Specialists and interested parties from other companies and financial institutions can send an email at OpenBanking@cbk.gov.kw.