The Central Bank of Kuwait has extended the operating hours of the Real Time Gross Settlement System (KASSIP), the national RTGS platform through which banks in Kuwait process interbank transfers via their accounts with the central bank. The change requires local banks to synchronise their internal systems so customers can initiate transfers through electronic banking channels from 7:00 am to 8:15 pm. KASSIP’s operating hours have been expanded in successive phases since May 2023, starting from 7:00 am to 2:15 pm and reaching 7:15 pm by April 2024, which enabled customers of local banks to execute transfers until 6:45 pm. This is the first extension in 2025 and the sixth since May 2023, taking total daily operating time to more than 12 hours.
Central Bank of Kuwait 2025-01-07
Central Bank of Kuwait extends KASSIP RTGS hours, requiring banks to support customer transfers from 7:00 am to 8:15 pm
The Central Bank of Kuwait has extended the operating hours of the Real Time Gross Settlement System (KASSIP) to allow interbank transfers from 7:00 am to 8:15 pm, requiring local banks to adjust their systems for customer transactions via electronic banking channels. This marks the sixth extension since May 2023, increasing the total daily operating time to over 12 hours.