The Central Bank of Kuwait has published a draft Open Banking Regulatory Framework that sets out the parameters for data sharing and financial infrastructure in the Kuwaiti banking sector. The framework was released on 4 June 2025.
The CBK said the framework is designed to introduce suitable infrastructure for open banking in Kuwait, meaning the APIs, data standards, and consent mechanisms that allow customers to share their financial data securely with authorised third parties.
BANK-FINTECH COOPERATION
A central stated goal of the framework is bolstering cooperation between Kuwait's established commercial banks and the fintech sector.
Open banking creates a mechanism through which fintechs can access bank-held customer data — with customer consent — to build new products and services, ranging from personal financial management tools to alternative credit-scoring models and payment initiation services.
KUWAIT VISION 2035 AND CONSULTATION
The open banking framework sits within the broader context of Kuwait Vision 2035, the country's national development plan, which identifies the diversification and digitalisation of the economy as priorities for reducing dependence on hydrocarbon revenues.
The CBK invited comments on the draft for four weeks from its date of issue, and said that once the final framework is issued, open banking services would be launched in a phased approach after sufficient testing.