The Central Bank of Kuwait has published a draft of its Open Banking Framework (OBF), outlining the country’s early steps towards enabling data sharing across the financial services ecosystem.

The framework aims to provide banks and fintechs with a structure to offer open banking services that are secure, standardised, and based on customer consent.

The OBF has been introduced in light of the increasing role of technology in Kuwait’s financial and payments sectors.

It is positioned as a mechanism to support the development of digital banking services, with potential benefits for regulators, banks, Open Banking Service Providers (OBSPs), and consumers.

The draft is built around four guiding principles: utility, transparency, security, and adoption.

These principles are intended to ensure that Open Banking in Kuwait delivers practical value, maintains clarity around data use, balances convenience with protection, and considers overall market readiness and cost implications.

The framework includes a series of supporting documents, which outline technical, operational, and regulatory requirements for participants.

These documents cover areas such as regulatory instructions for onboarding and dispute management, customer experience guidance, consent management, API design, technical specifications (including Swagger codes), security standards, operational procedures, and monetisation considerations.

Kuwait’s Open Banking Framework remains in draft form and is subject to further consultation.

Financial institutions and relevant stakeholders are encouraged to review the documentation and provide feedback as the framework continues to develop.

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