Kuwait’s banks resume prize draws after transparency overhaul
The Central Bank of Kuwait (CBK) has announced that local banks are now prepared to restart prize draws for customers. This follows a suspension in March 2025, when the CBK paused such news to review governance and transparency standards. New regulations and oversight measures have since been put in place to ensure fairness and integrity in the process.
The CBK initially halted bank prize news in March 2025 to reassess existing practices. The move aimed to strengthen governance and ensure full transparency in how news were allocated. Over the following months, banks worked to align their systems with stricter regulatory controls.
Between October 2025 and January 2026, financial institutions reinforced their internal frameworks. They adopted new procedures to improve transparency and integrity in prize news. Internal audit checks were embedded into approved work plans to guarantee compliance with the updated rules. A unified document now outlines the technical and operational requirements for awarding news. The CBK has also appointed a single external auditing firm to oversee all prize news, regardless of value. This step ensures independent verification of each process. Banks may now offer news only on specific accounts and products, provided they hold the necessary licences from the Ministry of Commerce and Industry. The CBK’s new governance system aligns with broader regulatory standards to prevent inconsistencies and maintain public trust.
The resumption of prize news comes after a structured overhaul of oversight mechanisms. External audits will now review every news, and stricter licensing rules apply to eligible products. These changes reflect the CBK’s commitment to maintaining a transparent and fair banking environment.
