The Institute of Banking Studies issued the “Financial and Banking Illuminations” bulletin for the current month of May, which is a periodical awareness bulletin issued every year since 2008, periodically, to bank customers and companies in particular, and to the public from all classes of society in general, with the aim of developing knowledge and spreading banking and financial awareness among them.
The new bulletin included the Regulatory Sandbox Framework document, which comes as a continuation of the Central Bank of Kuwait’s efforts to provide appropriate regulatory policies and instructions to support advanced products, services and business models in the modern financial services industry.
During the bulletin, “Banking Studies” pointed out that the “Central” issued the general framework for the experimental supervisory environment in line with the instructions for organizing electronic payment of funds, to support innovative initiatives in this field in a way that serves the interest of the economy and provides an opportunity for providers of innovative products and services to present their innovations according to a methodology. Do not expose the financial and banking system to risks.
The topics of the May bulletin included the definitions, objectives, scope, phases of the experimental control environment, and how to register for the experimental control environment on the “central” website.