Kuwait launches new interbank payment system
Transactions will be instantaneous and payment data encrypted, governor says
The Central Bank of Kuwait launched a new instant interbank payment system on August 30, equipped with new encryption technology.
In a statement, governor Mohammad Yousef Al-Hashel said the new system would allow for transactions to take place in seconds. Banks’ daily balances will also be settled instantaneously, he said.
“This was one of a series of projects geared to entrench financial stability in the country through an integrated network of electronic payment systems at par with
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