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Kuwait bolsters efforts, boosts regional partnerships against anti-money laundering

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 KUWAIT:  The State of Kuwait continues its steady efforts against money laundering, bolstering measures in this domain cooperation with regional and international partners. Such efforts coincide with the State of Kuwait’s plans to become a regional anti-money laundering and terror financing center. The judicial system saw a qualitative leap with the introduction of Decree No. 76/2025, amending some items within law No. 106/2013 concerning money laundering and combating terrorism financing.

The amendments enabled the Kuwaiti cabinet to enact decisions, which abide by international rules and regulations in this domain. The law included decisions to list and freeze assets and finances as well as bar dealings with suspicious individuals.

To reinforce cabinet decisions on the matter, the laws issued would be enacted on the date of issuance, including penal verdicts and fines ranging from KD 10,000 to KD 500,000 for each violation. The articles of the law took measures to execute UNSC resolutions on the matter within a legal framework balancing international obligations and constitutional duties, which gave individuals rights to submit formal grievance, view records, and asking for permission to cover necessary expenses.

This legislative step is part of the National Committee to Combat Money laundering and Terrorism Financing, which is assigned by the cabinet to reinforce cooperation with other state institutions to achieve international standards and boost Kuwait’s reputation in this field.

The committee comprises of several institutions and ministries including the Kuwait Financial Intelligence Unit (KwFIU), the Central Bank of Kuwait (CBK), the Ministry of Commerce and Industry to name a few.Last July, the two MoUs were signed by state entities to reinforce cooperation within combating money laundering and terrorism financing.

The MoU signed between the Kuwait customs and Interior Ministry boosted cooperation in combating financial crimes in line with Financial Action Task Force (FATF), a policy-making body that works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.

The other MoU, signed between the Capital Markets Authority (CMA) and the Kuwait Financial Intelligence Unit (KwFIU), ensured the exchange of information between the two sides within the field.

Meanwhile, the Ministry of Commerce and Industry prepared a guide to counter money laundering and terror financing in the gold, valuable minerals and gemstones sector in 2025. The guide set the parameters for trade in such sector and included measures warning against trading online and recommending traditional means for payment in addition to other preventative steps.

On another level, the CBK approved an updated methodology on penal action and also the Central Bank notified banks to use the KwFIU guideline to report any suspicious transactions.In addition to internal efforts, Kuwait hosted a workshop to prepare the unified GCC anti-money laundering strategy, which concluded its meetings on September 11.

A report issued by FATF last October said that the State of Kuwait has the required main framework to combat money laundering and terrorism financing through the country’s stable political, institutional, and governmental sectors. The report affirmed that Kuwait has boosted its legal capabilities and penal action to prevent such crimes from occurring. — KUNA

 

 

 

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Crown Prince receives KPC officials to mark a record offshore gas discovery

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KUWAIT: His Highness the Crown Prince Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah received at Bayan Palace on Tuesday Minister of Oil Tareq Sulaiman Al-Roumi, Deputy Chairman and CEO of Kuwait Petroleum Corporation (KPC) Sheikh Nawaf Saud Al-Nasser Al-Sabah and CEO of Kuwait Oil Company (KOC) Ahmad Jaber Al-Aidan. During the meeting, the officials briefed HH the Crown Prince on the new natural gas discovery in the Jazza offshore field, a landmark achievement in Kuwait’s maritime region.

The field recorded the highest production rate from a vertical well in the history of Kuwait’s Managish area and forms part of KOC’s ongoing efforts to develop the country’s hydrocarbon resources. HH the Crown Prince extended his best wishes for continued success and further achievements under the wise leadership of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah. The officials presented His Highness with a commemorative gift to mark the occasion. — KUNA

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Kuwait’s Prime Minister to represent Amir at Gaza Peace Summit in Egypt

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KUWAIT: His Highness the Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah and his accompanying delegation left Kuwait on Monday, heading to Egypt where he will represent His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah at the Sharm El-Sheikh Peace Summit for Gaza. — KUNA

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Kuwait promotes social justice and joint Arab developmental efforts

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CAIRO: Minister of Social Affairs, Family and Childhood Affairs and Chairperson of the Supreme Council for Family Affairs Dr Amthal Al-Huwailah on Monday reaffirmed Kuwait’s commitment to strengthening joint Arab social and developmental efforts to uphold human rights and promote social justice. Delivering her speech at the 82nd session of the Executive Office of the Council of Arab Ministers of Social Affairs, held at the League of Arab States headquarters in Egypt, Dr Al-Huwailah opened by expressing deep sorrow over the tragic death of three Amiri Diwan employees in a traffic accident in Sharm El-Sheikh, offering condolences to the families and wishing a speedy recovery to the injured.

She expressed pride in Kuwait’s participation in the session, which addressed key social and developmental issues, and expressed hope it would yield decisions supporting social justice policies and the empowerment of women, girls, and persons with disabilities, particularly in political participation and gender equality. Dr Al-Huwailah noted that the session would adopt the draft agenda for the 45th session of the Council of Arab Ministers of Social Affairs and prepare for the Second World Summit for Social Development, scheduled in Doha next November. She emphasized Kuwait’s aspiration for Arab countries to make a strong and active presence at these events, showcasing development achievements and exchanging experiences in social care.

Officials are pictured during the meeting. - KUNA photos

Officials are pictured during the meeting. – KUNA photos

Highlighting Kuwait’s role, she said the Ministry of Social Affairs, the Supreme Council for Family Affairs, and the Public Authority for the Affairs of Persons with Disabilities are committed to following up on the implementation of Council decisions, ensuring coordination that respects diversity and privacy while promoting social justice.

Dr Al-Huwailah concluded by thanking Egyptian Minister of Social Solidarity and Head of the Executive Office Dr Maya Morsi for the warm reception and efficient organization. She also praised Egypt’s efforts in hosting the Sharm El-Sheikh Peace Summit and its unwavering support for ending the conflict in Palestine. The Executive Office meetings are chaired by Egypt, with membership including Kuwait, Palestine, Qatar, the Comoros, Lebanon and Libya, alongside the participation of the Social Affairs Sector of the League of Arab States, represented by Minister Plenipotentiary Enas Al-Farjani.- KUNA

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