Cabinet briefed on national strategy to tackle money laundering and terror financing

• His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah will attend the opening ceremony of the new maternity hospital in the Al-Sabah Health District on Wednesday morning.

During its weekly meeting chaired by Acting Prime Minister and Minister of Interior Sheikh Fahad Al-Yousef, the Cabinet praised the dedicated efforts of Finance Minister and Minister of State for Economic Affairs and Investment Noura Al-Fassam, Commerce and Industry Minister Khalifa Al-Ajeel, and officials from the Kuwait Financial Intelligence Unit and the National Committee for Combating Money Laundering and Terrorism Financing, reported Q8-Press.

The Cabinet also reaffirmed its support for all government agencies working to enhance coordination and strengthen Kuwait’s fight against money laundering and terrorism financing.

At the beginning of the meeting, the council was informed of the generous patronage of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, who will attend the opening ceremony of the new maternity hospital in the Al-Sabah Health District on Wednesday morning.

The Cabinet was also informed that His Highness the Amir has assigned His Highness Sheikh Ahmad Al-Abdullah Al-Sabah, the Prime Minister—may God protect him—to represent His Highness at a celebration in Germany marking the 50th anniversary of the partnership between the State of Kuwait and the Mercedes-Benz Group, with the official delegation accompanying His Highness the Prime Minister.

The Cabinet also reviewed messages received from the Amiri Diwan, addressed to His Highness the Amir by heads of various countries, regarding ways to strengthen bilateral relations and enhance joint cooperation across multiple fields.

On the other hand, the Council of Ministers reviewed a visual presentation submitted by the Minister of Finance and Minister of State for Economic Affairs and Investment, Noura Sulaiman Al-Fassam, along with leaders and officials of the Kuwaiti Financial Intelligence Unit, regarding the monthly report of the National Committee for Combating Money Laundering and Terrorism Financing.

The presentation addressed the implementation of the Financial Action Task Force (FATF) requirements related to Kuwait’s assessment in combating money laundering and terrorist financing.

Supervision of money exchange shops

In this context, the Cabinet heard a briefing from the Minister of Commerce and Industry, Khalifa Al-Ajeel, on the measures taken by the ministry to implement the Cabinet’s decision to transfer the supervision and oversight of money exchange shops from the Ministry of Trade, Commerce and Industry to the Central Bank of Kuwait. He also highlighted the enforcement of ministerial regulations governing the operations of money exchange companies in accordance with the Central Bank’s requirements.

Preserving Kuwait’s reputation

The Council of Ministers commended the sincere efforts and tireless work of minister Noura Sulaiman Al-Fassam, minister Khalifa Abdullah Al-Ajeel Al-Askar, the leaders and staff of the Kuwaiti Financial Intelligence Unit, and the Chairman and members of the National Committee for Combating Money Laundering and the Financing of Terrorism. Their efforts strengthened Kuwait’s reputation in combating money laundering, with the Cabinet affirming full support for enhanced coordination and oversight.

Council of Ministers mourns First Warrant Officer Salem Fahad Al-Ajmi

Additionally, the Council of Ministers mourned the martyr of duty, First Warrant Officer Salem Fahad Al-Ajmi of the Kuwait Fire Force, who passed away while performing his national duty in firefighting.

The Council expressed its heartfelt condolences and sympathy, praying to Almighty God to have mercy on the deceased, place him among the martyrs, and grant his family patience and solace.

The Cabinet reviewed various agenda items and approved several of them. Others were referred to the relevant ministerial committees for further study and report preparation to complete the necessary implementation procedures.

The Council also approved the minutes of the Supreme Committee for the Investigation of Kuwaiti Nationality, which included decisions on the loss and withdrawal of Kuwaiti nationality from certain individuals, in accordance with Decree Law No. (15) of 1959 and its amendments.