The Kuwait Clearing Company (Takas) has announced the successful execution of its first real-time gross settlement (RTGS) cash transaction through the Central Bank of Kuwait.
The process involved transferring accumulated cash balances from traders’ accounts within the company to clearing members representing brokerage firms — with a total transaction value nearing USD 1 billion.
This milestone marks a significant step forward, reflecting the efficiency of the new system and the readiness of the Kuwaiti market for such a transformational shift.
On this occasion, Hamad Abdulaziz Al-Qattami, Senior Executive at Kuwait Clearing Company, stated:
“We are proud of this achievement, which represents a milestone in the development of Kuwait’s capital market. It enhances the safety and efficiency of cash settlement and transfer operations in the market and reaffirms our commitment to providing a modern and secure infrastructure that supports innovation and financial sustainability in the Kuwaiti market.”
The company also announced the establishment of the Kuwait Central Depository Company; a move aimed at further strengthening the country’s post-trade infrastructure.
To ensure the success of this ambitious development project, the company announced the establishment of the Kuwait Central Depository Company, a wholly owned subsidiary, which will provide securities depository services under the central securities depository (CSD) system, in accordance with legal regulations and in full compliance with the Capital Markets Authority's requirements.
Al-Qattami emphasized that this achievement is the result of a strategic partnership among all relevant stakeholders, each playing a pivotal role in preparing the regulatory and technical environment necessary to bring this national project to fruition. It reflects their shared vision to develop Kuwait’s capital market into a more efficient, flexible, and integrated system aligned with regional and global markets.
Furthermore, Takas is currently working on enhancing the RTGS (Real-Time Gross Settlement) system, introducing additional services to facilitate transactions for CSD members and their clients, effectively supporting the goals of Kuwait’s Vision for Digital Transformation.