Advanced: compare to quote from your bank ?

Top 3 Money Transfer Providers for UK to Kuwait

Provider Amount Received Fee Exchange Rate Speed
TorFX TorFX KWD 3,818.92 No Fee 0.3819 1-3 days more...
OFX (UK) OFX (UK) KWD 3,803.57 No Fee 0.3804 1-3 days more...
Corpay^ Corpay^ KWD 3,803.57 No Fee 0.3804 1-3 days more...
FXcompared Country Guides
There are no exchange controls in the UK for the pound sterling (GBP), and transferring money to the UK and sending money from the UK is very easy Read More
The Kuwaiti dinar (KWD) is a fully convertible currency, and money can be transferred to Kuwait and transferred from Kuwait with relatively few restrictions Read More

Kuwait Money Transfer Guide

Daniel Webber
Daniel is Founder and CEO and has 20 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely quoted as an expert within the money transfer industry including by The Economist, The Wall Street Journal, Reuters, CNBC and Bloomberg. Daniel is passionate about helping consumers and businesses find the best and most efficient ways to transfer money internationally.


  • Summary
  • Kuwait’s money transfer regulations
  • Kuwait’s regulatory authority
  • Kuwait’s economic background
  • Currency
  • Kuwait to Individual Country Guides
  • Summary

    The Kuwaiti dinar (KWD) is a fully convertible currency, and money can be transferred to Kuwait and transferred from Kuwait with relatively few restrictions. While foreign currency exchange is unrestricted, several constraints remain on foreign investment which has led to very low levels of FDI compared to its regional neighbors.

    Kuwait’s money transfer regulations

    Kuwait allows for the free movement of cash transfers and repatriation of investment capital, profits, interest, dividends, royalties and personal savings. Eleven domestic banks and 12 foreign bank operations from countries in the Gulf, as well as China, Europe and North America are currently licenced to operate by the Central Bank of Kuwait (CBK), as well as 39 foreign currency exchange businesses.

    Foreign ownership of business, however, is generally severely restricted; Kuwait receives the lowest amount of foreign direct investment (FDI) in the Middle East and North African region and is the lowest-ranked GCC country in the World Banks 2014 Doing Business report. The primary obstacles include bureaucratic red tape, lengthy procedures for new business creation, and the fact that foreign firms are barred from direct involvement in the petroleum and real estate sectors. Efforts are underway to ease foreign investment conditions, however, and 100% foreign ownership is permitted in certain sectors, including utilities, infrastructure, insurance, IT, tourism, and pharmaceuticals.

    Kuwait’s regulatory authority

    The CBK is responsible for monitoring and preserving the health of the financial system. The CBK sets and implements monetary policy, regulates the banking sector, and monitors the foreign exchange market in an effort to maintain price stability.

    Kuwait is also a member of the Gulf Cooperation Council (GCC), a regional body that promotes political and economic integration among its six member states, which also include Qatar, Bahrain, the United Arab Emirates (UAE), Saudi Arabia and Oman. Kuwait is the only GCC country whose currency is not pegged to the US dollar (USD). Instead, the Kuwaiti dinar is held on a managed float and referenced to a weighted basket of currencies. The exact makeup of the basket is undisclosed, but consists of the currencies of Kuwaits primary trade and financial partners. The basket is heavily dominated by the US dollar.

    The GCC Monetary Council, headquartered in Riyadh, Saudi Arabia, provides a forum for member countries to discuss and coordinate monetary policy. A project to create a GCC monetary union and common currency has been proposed numerous times, but has seen little real progress. The UAE and Oman indicated in 2013 that they would not take part in the most recent iteration of the project, and no changes are expected on this front in the near-term.

    Kuwait’s economic background

    The small Gulf nation of Kuwait punches above its weight in the global economy thanks to its significant oil and gas resources and the vast sums of foreign exchange their exports generate.Like most oil-rich countries in the region, Kuwaits economy relies heavily on foreign workers, who, with the exception of a handful of engineering or finance professionals are overwhelmingly low-skilled workers from Asia. The Kuwait Public Authority for Civil Information estimated in July 2014 that expatriates made up 69% of the countrys nearly 4m population.


    The Kuwaiti dinar (KWD), consists of 1,000 fils. The Central Bank of Kuwait issues banknotes in denominations of 250 fils and 50 fils, as well as 1, 5, 10, and 20 dinars. Coins are issued with values of 1, 5, 10, 20 and 50 fils and one dinar.

    Kuwait to Individual Country Guides

    Transfer Money Kuwait to India

    Top 8 Money Transfer Providers

    OFX (UK)

    Est. 1998

    OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

    More InfoLess Info


    Est. 2004

    Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

    FXcompared Rating
    More InfoLess Info

    Smart Currency Exchange

    Est. 2004
    Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
    More InfoLess Info

    Currencies Direct

    Est. 1996

    Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

    More InfoLess Info


    Est. 2004

    Transparency and security | Great customer feedback rating from Feefo

    More InfoLess Info


    Est. 2005

    Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

    FXcompared Rating
    More InfoLess Info

    Currency Solutions

    Est. 2003

    Currency exchange specialists ranking No.1 on Trustpilot for the past two years

    More InfoLess Info


    Est. 1979

    One-off payments | Regular payments | Great rates | Safeguarded customer funds

    More InfoLess Info is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.