- Kuwait’s Financial Intelligence Unit is strengthening its capabilities to combat money laundering and terrorist financing through enhanced financial analysis, advanced technology, and closer cooperation with domestic and international partners.
- FIU chief Dr. Hamad Al-Makrad said the country has made significant progress in tackling financial crime while continuing to invest in compliance, information-sharing, and regulatory coordination to safeguard the integrity of the national financial system.
The head of the Financial Investigations Unit, Dr. Hamad Al-Makrad, said the unit is continuously enhancing its financial analysis capabilities and strengthening cooperation with local and international partners. He emphasized that information sharing and institutional collaboration remain essential pillars in reinforcing Kuwait’s anti–money laundering and counter-terrorism financing framework.
Speaking to KUNA on the occasion of the International Day of Financial Intelligence Units, Al-Makrad noted that Kuwait has made significant progress in combating money laundering and terrorist financing. He attributed this achievement to the coordinated efforts of regulatory, security, judicial, and financial bodies, reflecting Kuwait’s strong commitment to international standards.
He added that the unit is focused on improving its technical and technological systems to better safeguard the integrity of Kuwait’s financial sector. This includes supporting national efforts to strengthen economic stability and reinforce Kuwait’s position as a trusted financial and commercial hub.
Al-Makrad also highlighted the growing complexity of financial crimes due to rapid technological advancements, stressing the need for continuous development of analytical tools and human expertise. He pointed to the importance of adapting to emerging digital risks in order to maintain effective oversight.
He further noted that the unit has signed several cooperation agreements with national entities and continues to develop its electronic reporting systems to enhance the speed and efficiency of detecting suspicious transactions.
In addition, the FIU has organized dozens of training workshops for compliance officers in sectors such as precious metals and real estate to strengthen awareness and compliance with anti-financial crime regulations.
He reaffirmed that cooperation with international partners remains crucial, as financial crime increasingly crosses borders, requiring fast and reliable information exchange to protect financial stability and support global efforts against illicit financial activity.
