Kuwait launches fintech sandbox

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Source: Reuters

Kuwait’s central bank has issued regulatory guidelines for companies wishing to experiment with new financial technology products and services, it said on Monday.

Kuwait’s regulatory testing framework, known as a ‘sandbox’, will include four phases, with representatives from local banks joining a central bank taskforce to assess the products and services being proposed.

Other cities across the Gulf region are competing to establish themselves as regional powerhouses in financial technology or fintech.

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