The Global Financial Integrity Foundation revealed in a report that the volume of illicit financial flows to Kuwait during the 9 years (2009-2018) was about $46 billion related to commerce with all global trading partners, and nearly $20 billion in its trade with 36 developed countries, to acquire the 7th place in the Arab world and 36th globally.

The report pointed out that the total illicit financial flows to Kuwait from 2014- to 2018 was about $30 billion, while the top five Arab centers recorded an estimated at $261 billion, according to a local Arabic daily.

Although the report of the American non-profit organization “Integrity Foundation” ranks 134 countries, including 14 Arab countries, it points out that its estimates do not live up to reliability, but it is assumed that the eyes of the local counterparts will be opened to track these funds and to reveal the suspicions mentioned therein.

In this regard, regulatory sources told the daily the illegal flows related to trade do not necessarily mean the existence of money laundering and terrorist financing operations, as they may be funds obtained, transferred or used illegally, or involve the transfer of acquired funds of illegal activities and tax evasion.

The sources explained that the estimation of illegal financial flows depends on two methods — calculating the value of illegal financial flows on the basis of the gap between the available sources of funds from external debt and the net value of foreign direct investment, and the uses of these funds “in increasing reserve assets and financing the current account deficit,” as well as based on the amount of decrease in the value of exports and the amount of increase in the value of imports as a result of price manipulation.

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