Central platform to protect private sector salaries
- The platform focuses on processing and tracking salary payments through banks.
- Enhancing the reliability of salary transfers and electronic tracking.
- Real-time monitoring of disbursement operations by regulatory authorities.
- Early detection of non-compliance with salary transfer requirements.
- The system covers all employees in the private sector, including both citizens and expatriates.
As part of the project to launch the second version of the Kuwait National Payments System, the Central Bank of Kuwait is preparing to launch the “Kuwait Salary Payment and Protection System” at the end of September this month. This move is part of the steps to complete the national payments infrastructure and enhance the efficiency and reliability of salary transfer operations for private-sector employees.
In preparation for the launch, local banks have been directed to ensure the readiness of their systems and to comply with the approved regulatory, operational, and supervisory requirements for the “Kuwait Salary Payment and Protection System.”
The system enables regulatory authorities to monitor salary disbursement operations in real time, allowing for the early detection and identification of cases of non-compliance with salary transfer obligations, thereby supporting the effectiveness of labor market oversight.
The launch of the “Salary Payment and Protection” system is part of a comprehensive package of national payment systems, several of which have been gradually operationalized in the previous phase, while the remaining systems will be completed in accordance with the approved project plan.
The system is among the most comprehensive, as it covers all private-sector employees, including both citizens and expatriates, without exception. It also sets no minimum threshold for the size of the establishment, meaning that both small and large companies and institutions are included in the electronic salary transfer mechanism. This ensures that salaries are paid on time, through a trackable and auditable process, in compliance with approved labor standards.
