Central Bank of Kuwait

Deputy Governor

Date: 14 February 2024
Ref.: 2/2-14/100-24

To:
The General Manager

Warmest Greetings,

In light of the ongoing efforts of the Central Bank of Kuwait to enhance the banking sector in the State of Kuwait and to elevate the level of banking services, the Central Bank of Kuwait is to extend the closing times of Kuwait Automated Settlement System for Inter-participant Payments (KASSIP) as follows:
    -Exchange Session: from 7:00 AM to 5:45 PM
    -Initial Cut-Off: from 4:45 PM to 6:15 PM
    -Final Cut-Off: 6:45 PM

Accordingly, your bank must adhere to the following:
    -Extend the working hours of your electronic banking channels to align with the new extension hours.
    -Announce the new extension hours to customers through your bank's media channels, social media platforms, and mobile applications, starting from Tuesday, 20/02/2024.
    -Provide the Central Bank of Kuwait with statistics including the type/number/volume of financial transactions for a period of two months starting from the date of the new extension, along with historical data for the same period (statistics on the number of transactions for two months prior to the extension).

Best Regards,
Sahar Abdulaziz Al-Rumaih