KNET’s Activities Expanded to Include Property Deals and Valuables Collection; E-Bill Service Removed

11/10/2026

KNET’s Activities Expanded to Include Property Deals and Valuables Collection; E-Bill Service Removed

KUWAIT CITY, Oct 11 : The Central Bank of Kuwait has amended the list of activities registered for the Joint Automated Banking Services Company (KNET), adding four activities while removing electronic invoice collection from its registered services.

The amendments were made to KNET’s registration in the Central Bank’s register of providers of electronic payment and electronic money services and operators of electronic payment systems.

The newly added activities include the purchase and sale of land and real estate exclusively for the company’s own account; ownership of real estate and movable property for the company’s benefit; printing postage or financial stamps and paper currency for the state, as well as printing checks and ownership documents; and collecting and delivering money and other valuables.

Meanwhile, the Central Bank removed electronic invoice collection, including collection through direct point-of-sale (POS) devices, from KNET’s registered activities.

The amendment changes the activities formally registered for KNET with the Central Bank. The published report did not specify the reasons for adding the new activities or removing electronic invoice collection.