KUWAIT'S CENTRAL BANK HAS STOPPED CHARGING EXTRA FEES FOR ONLINE TRANSACTIONS

  • 09/05/2022

Kuwait City: The Central Bank of Kuwait has stopped levying extra fees on banks for making payments to individuals online. Earlier, local banks had informed customers that from June 1, 2022, they would charge one dinar for transfers to corporate accounts and 500 fils for transfers to personal accounts, a decision that the Central Bank of Kuwait has suspended.  


In support of the trends towards digital transformation, the CBE stressed the need for new approvals to impose such fees within the framework of a balanced relationship between banks and their customers, and to encourage consumers to use electronic channels.

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