Kuwait recorded 37.61 billion dinars in consumer spending during the first eight months of 2026, generated through nearly 1.1 billion transactions, as electronic payments, card purchases and instant transfers continued to account for a substantial share of economic activity, according to Central Bank of Kuwait data.
The figures, which include card transactions conducted both inside and outside Kuwait, show that POS transactions accounted for the largest share of spending during the January-August period, at 12.74 billion dinars through 683.15 million transactions. Online payments totaled 11.43 billion dinars through 251.87 million transactions, while cash withdrawals reached 5.74 billion dinars through 42.54 million transactions. Transfers through Wamd amounted to 7.70 billion dinars through 118.41 million transactions.
In August alone, total transactions across the four channels amounted to approximately 4.828 billion dinars, compared with 4.853 billion dinars in July, a decline of 24.8 million dinars, or 0.51 percent. The monthly decline was mainly due to lower cash withdrawals and POS spending, partly offset by higher online payments and Wamd transfers. August transactions included 1.637 billion dinars through POS terminals, 1.453 billion dinars through online platforms, 665.5 million dinars in cash withdrawals and 1.072 billion dinars through Wamd.
POS transactions remain largest spending channel
POS transactions totaled 12.74 billion dinars during the first eight months, generated through 683.15 million transactions. In August, POS spending reached 1.6374 billion dinars, compared with 1.6387 billion dinars in July, a monthly decline of 1.3 million dinars, or 0.08 percent. The number of POS transactions also fell to 88.72 million in August from 89.27 million in July, a decrease of 0.62 percent. Of August’s POS spending, 1.6084 billion dinars was made using local bank cards, while transactions using foreign bank cards accounted for 29 million dinars.
Online payments made using local bank cards reached 11.43 billion dinars during the first eight months of 2026, through 251.87 million transactions. In August, online spending increased to 1.45 billion dinars from 1.44 billion dinars in July, representing an increase of 10.1 million dinars, or 0.70 percent. However, the number of online transactions declined by 2.12 percent to 32.09 million, compared with 32.79 million in July. Combined spending through POS terminals and online platforms reached approximately 3.091 billion dinars in August, up from 3.082 billion dinars in July, an increase of 8.8 million dinars, or 0.29 percent.
For the first eight months of the year, combined card purchases through POS terminals and online platforms totaled approximately 24.17 billion dinars. ATM cash withdrawals totaled approximately 5.74 billion dinars between January and August, through 42.54 million transactions. Withdrawals fell to 665.5 million dinars in August, compared with 703.2 million dinars in July, a decline of 37.7 million dinars, or 5.36 percent.
The number of withdrawal transactions also fell to 5.20 million, compared with 5.36 million in July, down 3.02 percent. Local bank cards accounted for 657.6 million dinars of August’s withdrawals, while foreign bank cards accounted for 7.9 million dinars.
Transfers through the Wamd service totaled approximately 7.698 billion dinars during the first eight months, through 118.41 million transactions. August transfers reached 1.0722 billion dinars, compared with 1.0681 billion dinars in July, an increase of 4.1 million dinars, or 0.38 percent. This represented the highest monthly value recorded during the period covered by the data.
Customer deposits rise 8.8 percent annually
The number of Wamd transactions, however, edged down to 16.418 million in August from 16.436 million in July, a decline of about 18,300 transactions, or 0.11 percent. Customer deposits held by residents and non-residents increased to approximately 62.87 billion dinars by the end of August, representing annual growth of 8.84 percent and an increase of 5.10 billion dinars from 57.77 billion dinars a year earlier.
On a monthly basis, deposits increased by approximately 237 million dinars, or 0.38 percent, while the increase since the end of December stood at 3.72 billion dinars, equivalent to 6.28 percent. Private-sector deposits reached 45.80 billion dinars, accounting for 72.84 percent of total deposits. They increased 2.47 percent annually, while their monthly growth was limited to 12.7 million dinars.
Public-sector deposits rose to approximately 11 billion dinars, recording annual growth of 28.92 percent and a monthly increase of 261.9 million dinars, making them the main contributor to deposit growth during August. Government deposits stood at 6.08 billion dinars, up 33.76 percent annually, although they declined by 36.6 million dinars during the month.
Credit facilities rise to 65.74 billion dinars
The outstanding balance of utilized credit facilities extended to residents and non-residents increased to 65.74 billion dinars by the end of August. The balance was up 6.49 percent annually, representing an increase of approximately 4.01 billion dinars. On a monthly basis, credit facilities increased by 715.5 million dinars, or 1.10 percent. Since the beginning of the year, credit facilities have increased by approximately 2 billion dinars, or 3.14 percent.
Personal loans reached 20.73 billion dinars, an annual increase of 4.69 percent. Housing loans accounted for 18.06 billion dinars of this amount. Consumer loans stood at 2.05 billion dinars, down 0.66 percent year-on-year, although they edged up 0.12 percent on a monthly basis. Financing for securities purchases increased to 4.97 billion dinars, representing annual growth of 10.33 percent and monthly growth of 0.97 percent.
Real estate facilities reached 11.33 billion dinars, up 4.84 percent annually, while industrial facilities rose to 3.25 billion dinars, an annual increase of 12.42 percent. Oil and gas facilities reached 3.11 billion dinars, recording annual growth of 18.69 percent.
Loans extended to banks increased to 4.73 billion dinars, rising by 452.7 million dinars, or 10.58 percent, during August. Facilities extended to non-bank financial institutions stood at 3.25 billion dinars.
