Monday 24, September 2018 by Kudakwashe

Central Bank of Kuwait to enforce ‘e-payment’ system regulation

 

The central bank said that all service providers are required to regulate their e-payment transactions in line with established regulations.

The Central Bank of Kuwait (CBK) has instructed all service providers, including companies and institutions to register in its electronic payment system.

In a statement, CBK said that all e-payment methods are subject to its scrutiny.

Dr. Mohammad Al-Hashel, CBK’s Governor, said that a team of experts and specialists has been assembled to look into the most cutting-edge financial services and products.

The governor praised the widespread use of e-payment methods in Kuwait, assuring clients of fool proof security despite the alarming rise in global banking fraud.

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