Kuwait Central Bank advances digital banking
The Central Bank of Kuwait successfully led the digital transformation process in the country's banking sector, relying on a strategic vision aimed at developing technological infrastructure and enhancing financial innovation. The bank launched several intelligent systems such as the Kuwait Automated Clearing System and the Kuwait National Payments System to provide more efficient and secure services. It also expanded digital payment services like Apple Pay and MADA. Additionally, the bank worked on organizing the electronic payments ecosystem and issued a framework for digital banks, with a focus on data protection and cybersecurity, all with the goal of promoting financial inclusion and achieving financial stability by 2026.
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