The Governor of the Central Bank of Kuwait, Basil Al-Haroun, announced, Tuesday, the bank’s intention to launch an advanced digital portal for services directed to the banking sector with the aim of providing a digital environment that contributes to accelerating transactions and procedures between it and banks and increasing their quality.

The governor told a local Arabic daily, the launch of the digital portal comes from the Central Bank’s digital transformation strategy and the rapid transition towards a business environment based on keeping pace with the huge developments in the banking industry, which supports the ability of the banking system units to carry out their duties in a highly competitive environment.

He added that the developed digital portal also contributes to improving the efficiency of the services provided and increasing their effectiveness, provided that its services will be launched gradually during the coming period.

And he indicated that the first phase of launching the portal will be directed to the banking sector units and provide a different set of services that reduce paper transactions, determine the time required for their completion, facilitate fulfillment of requirements and speed up procedures, which will result in enhanced decision-making ability.

Al-Haroun indicated that this step is part of an integrated strategy for digital transformation, as there are a number of other services to be provided within this strategy.

He affirmed that the Central Bank will continue its unremitting efforts to keep pace with technical development, enhance digital transformation, and develop operational efficiency at the level of the institution, as well as at the level of the entities subject to its control.

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