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Central Bank enhances payment system operations during weekends, holidays

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KUWAIT: The Central Bank of Kuwait (CBK) has issued a circular to all local banks regarding the operation of the Kuwait Automated Settlement System for Interbank Payments (KASSIP) and the Kuwait Electronic Cheque Clearing System (KECCS) during weekends and official holidays, effective from April. In a press statement on Sunday, CBK affirmed that the directive aligns with its ongoing efforts to enhance the quality and sustainability of financial services in the banking sector. The initiative is part of the bank’s broader strategy to improve the efficiency of payment systems, reinforcing key components of financial and monetary stability in Kuwait.

The CBK emphasized that the move is also aimed at ensuring the availability of financial services around the clock to cater to the diverse needs of individuals and businesses. As the regulator and operator of the national payment systems infrastructure, the CBK remains committed to fostering seamless financial transactions across the economy. According to the circular, the operating hours for KASSIP will be from 7:00 am to 11:15 pm, allowing bank customers to conduct financial transfers through electronic banking channels within this timeframe. Interbank transfers will also be available until 11:15 pm.

Regarding KECCS, CBK stated that banks will be able to submit customer cheques 24 hours a day. For same-day cheque collection, submissions must be made by 7:00 pm, with responses provided by 8:00 pm. However, this excludes cheques issued by the Central Bank of Kuwait. With these enhancements, cheques issued in Kuwaiti dinars can be processed electronically on the same day if submitted before 7:00 pm, further streamlining banking transactions and improving financial accessibility for consumers and businesses alike. — KUNA

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Crown Prince receives KPC officials to mark a record offshore gas discovery

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KUWAIT: His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah received at Bayan Palace on Tuesday Minister of Oil Tareq Sulaiman Al-Roumi, Deputy Chairman and CEO of Kuwait Petroleum Corporation (KPC) Sheikh Nawaf Saud Al-Nasser Al-Sabah and CEO of Kuwait Oil Company (KOC) Ahmad Jaber Al-Aidan. During the meeting, the officials briefed HH the Crown Prince on the new natural gas discovery in the Jazza offshore field, a landmark achievement in Kuwait’s maritime region.

The field recorded the highest production rate from a vertical well in the history of Kuwait’s Managish area and forms part of KOC’s ongoing efforts to develop the country’s hydrocarbon resources. HH the Crown Prince extended his best wishes for continued success and further achievements under the wise leadership of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah. The officials presented His Highness with a commemorative gift to mark the occasion. — KUNA

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Kuwait’s Prime Minister to represent Amir at Gaza Peace Summit in Egypt

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KUWAIT: His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah and his accompanying delegation left Kuwait on Monday, heading to Egypt where he will represent His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah at the Sharm El-Sheikh Peace Summit for Gaza. — KUNA

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Kuwait promotes social justice and joint Arab developmental efforts

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CAIRO: Minister of Social Affairs, Family and Childhood Affairs and Chairperson of the Supreme Council for Family Affairs Dr Amthal Al-Huwailah on Monday reaffirmed Kuwait’s commitment to strengthening joint Arab social and developmental efforts to uphold human rights and promote social justice. Delivering her speech at the 82nd session of the Executive Office of the Council of Arab Ministers of Social Affairs, held at the League of Arab States headquarters in Egypt, Dr Al-Huwailah opened by expressing deep sorrow over the tragic death of three Amiri Diwan employees in a traffic accident in Sharm El-Sheikh, offering condolences to the families and wishing a speedy recovery to the injured.

She expressed pride in Kuwait’s participation in the session, which addressed key social and developmental issues, and expressed hope it would yield decisions supporting social justice policies and the empowerment of women, girls, and persons with disabilities, particularly in political participation and gender equality. Dr Al-Huwailah noted that the session would adopt the draft agenda for the 45th session of the Council of Arab Ministers of Social Affairs and prepare for the Second World Summit for Social Development, scheduled in Doha next November. She emphasized Kuwait’s aspiration for Arab countries to make a strong and active presence at these events, showcasing development achievements and exchanging experiences in social care.

Officials are pictured during the meeting. - KUNA photos

Officials are pictured during the meeting. – KUNA photos

Highlighting Kuwait’s role, she said the Ministry of Social Affairs, the Supreme Council for Family Affairs, and the Public Authority for the Affairs of Persons with Disabilities are committed to following up on the implementation of Council decisions, ensuring coordination that respects diversity and privacy while promoting social justice.

Dr Al-Huwailah concluded by thanking Egyptian Minister of Social Solidarity and Head of the Executive Office Dr Maya Morsi for the warm reception and efficient organization. She also praised Egypt’s efforts in hosting the Sharm El-Sheikh Peace Summit and its unwavering support for ending the conflict in Palestine. The Executive Office meetings are chaired by Egypt, with membership including Kuwait, Palestine, Qatar, the Comoros, Lebanon and Libya, alongside the participation of the Social Affairs Sector of the League of Arab States, represented by Minister Plenipotentiary Enas Al-Farjani.- KUNA

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