Finance Ministry, FIU sign information-sharing pact to fight financial crimes
Government agencies deepen cooperation to protect state property, national economy
Kuwait has taken another step to strengthen its financial crime prevention framework with the signing of a memorandum of understanding (MoU) between the Ministry of Finance and the Financial Intelligence Unit (FIU), aimed at enhancing information sharing on state-owned assets and reinforcing efforts to combat money laundering and the financing of terrorism.
The agreement reflects the government’s continued drive to strengthen institutional cooperation and build an integrated framework for detecting and preventing illicit financial activities while safeguarding public assets and protecting the national economy.
According to the Ministry of Finance, the MoU establishes mechanisms for exchanging information, expertise and technical knowledge related to state property, enabling both institutions to improve their capacity to identify suspicious financial activities and enhance the effectiveness of anti-money laundering and counter-terrorism financing measures.
The ministry said the agreement also supports its broader strategy of expanding partnerships across government entities, promoting institutional integration and reinforcing transparency, accountability and integrity in financial transactions.
The memorandum was signed on behalf of the Ministry of Finance by Undersecretary Asil Al-Munaifi, while Dr. Hamad Al-Makrad, Head of the Financial Intelligence Unit, signed on behalf of the unit.
Officials said the partnership is expected to strengthen Kuwait’s financial governance framework by improving coordination among public institutions, enhancing the exchange of critical information, and supporting national efforts to combat financial crime in line with international best practices.
