The Central Bank of Kuwait (CBK) has released a draft Open Banking Regulatory Framework, laying the groundwork for banks and fintechs to securely share customer data, with user consent, to offer services like account aggregation, spending insights, and direct payments.
The framework supports Kuwait’s broader digitisation agenda under “New Kuwait 2035” and will enable Open Banking Service Providers licensed by CBK to operate in the market.
A fintech firm is already piloting these services in CBK’s regulatory sandbox, Wolooj.
Feedback on the draft is open for four weeks, with a phased rollout planned post-finalisation.
