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Operational Instructions (Draft Version 1.0)

Operational Instructions (Draft Version 1.0)

Overview of the Document

Operational Instructions form an essential component of Kuwait’s Open Banking Framework, highlighting the operational instructions objectives, and covering in detail the availability and performance KPIs for reporting and monitoring, dedicated interface requirements to ensure operations are in line with the proper standards, problem resolution policies and procedures, change and communication management principles, and operational instructions checklist.

 

Purpose of the document

The document has been prepared regarding the operational instructions that would be used for defining the operational standards for the Kuwait Open Banking Framework.

Overview

The following document sets out criteria, instructions, and information requirements to assist ASPSPs demonstrate compliance with the regulatory requirements via the instructions laid down by Open Banking Governing Entity through the Operational Instructions (OI) and Operational Instructions checklist.

These recommendations are designed to help deliver an effective Open Banking ecosystem, meeting the needs of OBSPs in providing services to users/customers. ASPSPs need to adopt the OI and OI checklist to position themselves in a better way to successfully demonstrate that they have delivered a dedicated interface with the necessary attributes and functionality to drive competition and innovation. The OI and OI Checklist will be revised in the event of changes to regulatory instructions and to support future releases of the Open Banking Standard.

The objectives of the Operational Instructions are:

  • To provide clarity to ASPSPs to enable them to design effective and high-performing dedicated interfaces while fulfilling their regulatory obligations

  • To ensure that OBSPs have access to consistently well-designed, well-functioning and high performing dedicated interfaces

  • To ensure that consumers/users using OBSP services have positive experiences that encourage them to continue to consume open banking-enabled services