Kuwait: CBK: Exchange Firms' Measures Taken Upon '13 InstructionsSource: www.export-egypt.com 2/4/2017, Location: Middle East |
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Central Bank of Kuwait (CBK) Governor Mohammad Al-Hashel said measures applied by exchange firms regarding combatting money laundering and terror finance came upon CBK instructions in July 2013.
Al-Hashel made the remark in response to recent social media reports that exchange firms were taking strict measures against money transfers. He assured that the 2013 instructions had been made in line with Law 6/2013 regarding the combatting of money laundering and terror finance. The directives targeting local banks and finance companies which are subject to the CBK's surveillance reflected Kuwait's commitment to relevant UN agreements, Al-Hashel noted. Proceeding from the CBE's role in the protection of the banking and financial system from the hazards of money laundering and terrorism, the measures of exchange firms, banks and finance institutions are compatible with relevant international requirements, he added. The CBK governor voiced confidence that all clients are well aware of Kuwait's significant abidance by international resolutions and requirements in the domain of fighting money laundering terror finance. |
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