Kuwait steps up FATF compliance, PM leads push against money laundering risks
His Highness the Prime Minister Sheikh Ahmed Al-Abdullah chaired a high-level meeting to review the observations and requirements of the Financial Action Task Force, focusing on strengthening Kuwait’s compliance with international standards on combating money laundering and terrorism financing.
The discussions centered on enhancing coordination and integration among relevant government entities, while improving follow-up mechanisms to ensure effective implementation of regulatory frameworks. The meeting emphasized adopting a unified institutional approach to address this critical issue and reaffirm Kuwait’s commitment to meeting FATF requirements within the specified timelines.
Attendees examined measures to strengthen the national framework for combating money laundering and terrorist financing, with a focus on enhancing coordination among all entities to address gaps and tighten oversight. The effort reflects Kuwait’s wider commitment to meeting international compliance standards and protecting the integrity of its financial system.
The meeting brought together senior officials, including Minister of Justice Nasser Al-Sumait, Minister of Electricity, Water and Renewable Energy Subaih Al-Mukhaizeem, Minister of Commerce and Industry Osama Boodai, and Minister of Foreign Affairs Sheikh Jarrah Al-Jaber.
Also in attendance were Advisor at the Prime Minister’s Diwan Sheikh Dr. Basel Al-Sabah, Central Bank Governor Basel Al-Haroun, Acting Head of the Diwan Sheikh Khalid Mohammed Al-Khaled, Managing Director of the General Investment Authority Sheikh Saud Al-Salem, Head of the Fatwa and Legislation Department Counselor Salah Al-Majed, and Head of the Financial Investigations Unit Hamad Al-Makrad, along with officials from the Ministry of Interior, the Financial Investigations Unit, and the Public Funds Prosecution.
The meeting underscored the importance of continued coordination among institutions to ensure Kuwait meets its international obligations, strengthens financial transparency, and enhances its capacity to combat illicit financial activities.
