The Kuwait Clearing Company has successfully completed its first cash settlement using the Real Time Gross Settlement (RTGS) system via the Central Bank of Kuwait. The transaction involved the transfer of approximately $1 billion from traders’ accounts to financial brokerage firms, demonstrating the system’s robustness and the Kuwaiti market’s readiness for this transformative leap.
On this achievement, Hamad Abdulaziz Al-Qatami, Senior Vice President of Kuwait Clearing Company, stated, “We are proud of this milestone, which marks a major step in advancing Kuwait’s capital market, reports Al-Jarida daily.
“It strengthens the security and efficiency of our settlement and cash transfer operations, and reflects our ongoing commitment to a modern, resilient infrastructure that promotes innovation and financial sustainability,” he said.
This successful settlement reflects the operational efficiency, regulatory coordination, and technological maturity of Kuwait’s financial ecosystem.
