Kuwait, US join hands to combat money laundering, terrorism financing
Dr. Al-Mekrad highlighted that Kuwait had made significant progress in a short period, including amendments to Law No. 106 of 2013 on combating money laundering and terrorist financing, as well as updates to the international cooperation law on legal assistance and extradition.
A Kuwaiti delegation headed by Dr. Hamad Al-Mekrad, Chairman of the National Committee for Combating Money Laundering and Terrorism Financing and Head of the Kuwait Financial Intelligence Unit, held high-level talks with officials from the US Treasury Department in Washington to discuss ways to enhance cooperation in countering financial crimes.
The discussions addressed key areas of mutual interest, culminating in an agreement to deepen bilateral collaboration, organize joint workshops, and exchange technical expertise to support both national and international efforts in combating money laundering and terrorism financing.
The Kuwaiti delegation, which included representatives from the Ministries of Foreign Affairs and Interior as well as the General Administration of Customs, briefed US officials on Kuwait’s latest achievements in implementing corrective measures outlined in the Kuwait Assessment Report issued last October. These measures reflect the country’s commitment to aligning with international standards in financial transparency and combating illicit financial flows.
Following the meeting, Dr. Al-Mekrad highlighted that Kuwait had made significant progress in a short period, including amendments to Law No. 106 of 2013 on combating money laundering and terrorist financing, as well as updates to the international cooperation law on legal assistance and extradition. He also noted that the National Committee had completed a national risk assessment report and launched a year-long awareness campaign targeting the private sector to strengthen compliance and understanding of anti-money laundering obligations.
Dr. Al-Mekrad emphasized that the Kuwait Financial Intelligence Unit (FIU) has intensified its collaboration with financial institutions and non-financial professions, resulting in better-quality reports and greater overall effectiveness in the country’s AML/CFT (Anti-Money Laundering/Counter-Terrorism Financing) framework.
For his part, Assistant Foreign Minister for Development and International Cooperation, Ambassador Hamad Al-Mashaan, underscored that cooperation with a strategic ally such as the United States in areas of counterterrorism, anti–money laundering, and combating violent extremism represents a cornerstone of Kuwait’s foreign policy.
Ambassador Al-Mashaan added that recent months have witnessed tangible results through joint listings and continuous coordination between relevant Kuwaiti and American authorities, demonstrating the shared resolve of both nations to confront security threats and reinforce global efforts to promote international stability and peace.
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