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.