Kuwaitis and residents transfer more via “Wamda” than they withdraw in cash.. 481,000 transactions daily
Ahmed Maghrabi
Data from the Central Bank of Kuwait reveals a significant shift in how citizens and residents manage their funds within the country, with instant transfers via the “Wamda” service surpassing cash withdrawals from ATMs. The value of funds transferred through “Wamda” reached 6.63 billion Kuwaiti dinars during the first seven months of 2026, compared to 4.94 billion dinars withdrawn in cash domestically during the same period.
Consequently, funds transferred via “Wamda” exceeded cash withdrawals by approximately 1.68 billion dinars between the beginning of January and the end of July 2026. This means that the value of “Wamda” transfers was 34.06% higher than the amount of “cash” withdrawn inside Kuwait.
This calculation is based on the Central Bank of Kuwait’s table of electronic payment transactions within the state, meaning the cash withdrawal figures used in the comparison are limited to locally executed operations, excluding withdrawals made by Kuwaiti cardholders abroad.
“Wamda’s” dominance is not limited to transaction value; it is even more pronounced when looking at the number of operations. The service recorded approximately 102 million transfer operations during the first seven months of the year, compared to 35.55 million cash withdrawal operations within the country.
Thus, the number of “Wamda” operations exceeded cash withdrawals by approximately 66.44 million operations, or 186.88%. In simpler terms, the number of “Wamda” operations was about 2.869 times the number of cash withdrawals; for every 100 “cash” withdrawal operations inside Kuwait, approximately 287 transfers were executed via “Wamda.”
A monthly reading of the data reveals that “Wamda’s” lead over cash withdrawals was not the result of an exceptional spike in a single month, but rather a trend that extended across all seven months of 2026.
In January, “Wamda” transfers amounted to 896.6 million dinars, compared to 710.2 million dinars withdrawn in cash domestically, a difference of 186.4 million dinars in favor of “Wamda.” Central Bank data shows that cash withdrawals in January were executed through 5.246 million operations, while “Wamda” recorded 13.546 million operations.
In February, “Wamda” transfers totaled 853.3 million dinars against 688.3 million dinars in cash withdrawals, a difference of 165 million dinars. March saw transfers rise to 897 million dinars against 843.9 million dinars in “cash,” a difference of 53.1 million dinars.
In April, “Wamda” transfers reached 876.8 million dinars, compared to 656.4 million dinars withdrawn from ATMs inside Kuwait, a difference of 220.4 million dinars in favor of instant transfers.
With the arrival of May, “Wamda” transfers surpassed the one-billion-dinar monthly threshold for the first time during the monitored period, against 706.4 million dinars in cash withdrawals, widening the gap to 294.1 million dinars.
In June, “Wamda” transfers rose to 1.03 billion dinars against 658.4 million dinars in cash withdrawals, a difference of 375.1 million dinars. Central Bank data indicates that “Wamda” operations in the month reached 15.62 million, compared to 4.8288 million cash withdrawal operations.
In July, “Wamda” transfers reached their highest level during the seven months at 1.06 billion dinars, against 678.7 million dinars withdrawn in cash domestically. The gap jumped to 389.4 million dinars in favor of “Wamda,” with the number of instant transfers reaching 16.43 million operations against 5.04 million cash withdrawal operations.
Thus, the monthly gap between “Wamda” and “cash” widened from 186.4 million dinars in January to 389.4 million dinars in July, meaning the gap at the end of the period was more than double its level at the beginning of the year.
481,000 Operations Daily
Calculating the period from the beginning of January to the end of July, which spans 212 days, the average amount transferred via “Wamda” was approximately 31.254 million dinars daily, compared to approximately 23.313 million dinars in cash withdrawals inside Kuwait daily.
The average number of “Wamda” operations was approximately 481,100 daily, against approximately 167,700 cash withdrawal operations, a difference exceeding 313,000 operations daily in favor of instant transfers.
65 Dinars Average per Transaction
The figures also reveal a clear difference in the nature of usage between the two channels. The average value of a single “Wamda” transaction during the seven months was approximately 64.96 dinars, compared to approximately 139.01 dinars for the average cash withdrawal transaction.
Thus, the average value of a “cash” withdrawal in a single transaction is more than double the average value of a transfer via “Wamda.” However, the high frequency of “Wamda” usage largely compensated for this difference, with approximately 102 million transfer operations executed over seven months.
These figures gain additional significance given the novelty of the service. Central Bank of Kuwait data shows that “Wamda” instant payment service operations began in June 2024.
Thus, the results of the first seven months of 2026 paint a clear picture of a change in how funds are moved inside Kuwait. With “Wamda” transfers reaching 6.63 billion dinars and surpassing cash withdrawals, and the number of instant transfers approaching three times that of “cash” withdrawals, this serves as an indicator of the growing reliance on digital transfers in the daily transactions of citizens and residents.
