The Central Bank of Kuwait issued its final regulatory framework for open banking services. The rules set security, technical, and operational standards for licensed financial institutions. They enable banks to offer open banking services in Kuwait.
What the framework allows
Local banks may share data securely with authorized account information and payment initiation providers. Customers must give explicit consent before any data is shared. Only providers authorized by the Central Bank of Kuwait may offer these services.
Services covered
The scope includes a single view of customer accounts held with local banks. It also covers spending tracking and saving and spending plans. Users can compare banking products and services to find suitable options.
Practical uses
The rules support loan and letter of guarantee transactions. Customers can initiate payment orders from their bank accounts. Licensed financial institutions can offer open banking products under the framework.
The central bank reviewed all opinions and comments submitted on a draft released in June 2025. It said the process promoted transparency and stakeholder engagement. The rules follow global best practices.