Latest News
- No Transactions Without Biometrics
- Passenger Caught With Pure Cocaine From Europe
- The Elderly Man Was Not Insulted By Me
- 97% Of MEW Workforce Are Kuwaitis; Strength 34,417
- Rushing Home For 'iftar' Causes Accidents And Deaths
- Expect Hot Days, Cool Nights, And Thunderstorms In Kuwait
- Health Procedures For Expatriates Updated
- Kuwait's Agility Global Seeks Inclusion On Abu Dhabi's ADX
- Public Authority For Industry Completes Industry Law Amendment P...
- Indian Ambassador Hosts Ramadan Celebration In Kuwait
- Al-Mashaan Grants Authority For Transfers Of Municipal Departmen...
- For The Expansion Of The Subiya Site, 204.178 Million Dinars And...
Kuwait Money Exchange Companies Told To Tighten Scrutiny
The money exchange companies and the transfer of funds operating in Kuwait will circulate to all their employees the need to tighten the implementation of all the regulatory requirements issued by the Central Bank of Kuwait (CBK) and to ensure that all the conditions of the transfer operations are completed in order to verify the identity of customers and inquire about the source of funds and demand a copy of all necessary documents required for the transfers, reports Al-Qabas daily quoting reliable sources.
The sources pointed out that the circular came after the CBK inspected some branches of the exchange companies which used methods not commensurate with instructions issued by the CBK.
The daily added, the CBK employees posing as customers entered some exchange offices and discovered they did not comply with the CBK regulations. The sources said this comes within the framework of the recent efforts of the CBK to prevent money laundering and fi- nancing terrorism and Kuwait’s commitment to the UN conventions and the international standards in combating money laundering and terrorism financing.
SOURCE : ARABTIMES
Trending News
-
MoI Urges Biometric Fingerprinting Compliance Ahea...
21 March 2024
-
5 Days Holiday For Eid Al-Fitr Begins On April 9th
25 March 2024
-
Over 120,000 Expat Offenders Will Benefit From Kuw...
14 March 2024
-
Kuwait Offering Amnesty To Illegal Expats
17 March 2024
-
From April 1 To July 1, Kuwait Grants Amnesty To V...
14 March 2024
-
Kuwaiti Banks Elevate Non-Resident Credit To 4.17...
18 March 2024
-
Central Bank Of Kuwait Provides Banks With New Ba...
20 March 2024
-
Kuwait's Clean Energy Journey: Progress And Challe...
23 March 2024
-
Banks In Kuwait Report Robust Profits Despite The...
21 March 2024
-
Driving Licenses With Smart Technology
25 March 2024
Comments Post Comment