Payment Services Provider Regulations

Saudi Arabia

2021

Privacy

Overview

Kuwait's Payment Services Provider Regulations were issued by the Central Bank of Kuwait (CBK) in November 2018 to bring non-bank payment institutions under formal regulatory oversight. The framework governs the licensing, supervision, and risk management obligations of companies offering digital payment services.
These regulations apply to fintech companies, e-wallet operators, payment aggregators, mobile payment firms, and othernon-bank financial institutions providing payment services in Kuwait. The goal is to ensure financial stability, consumer protection, and regulatory compliance in Kuwait's evolving payments ecosystem.

Key Obligations

Obtain a license from the Central Bank of Kuwait before offering payment services
Maintain minimum capital requirements based on service type and risk exposure
Implement AML/CFT controls, including customer due diligence and transaction monitoring
Protect user data and funds, including segregation of customer assets

Establish business continuity and cybersecurity policies
Submit to ongoing supervision, inspections, and reporting
Adhere to disclosure standards for service fees, terms, and user protections

FAQ

Related Regulations

Retail Payment Services and Card Schemes Regulation RPSCS

PSD2 Payment Services Directive

FedNow Reg J Instant Payments

Stay ahead of risk with Signzy

Explore tools that help you onboard, monitor, and verify with confidence

Identity Verification

Use facial match and liveness checks paired with government ID verification to make sure the person holding the document is the person you're onboarding.

AML Screening

Comprehensive Anti-Money Laundering screening solutions to detect and prevent financial crimes through advanced monitoring and compliance tools.

Criminal Screening

Thorough background checks and criminal record verification to ensure compliance and maintain security standards in your onboarding process.