Press Releases

The Central Bank of Kuwait conducts two workshops on 29 and 30 June 2021 in the field of Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for banking and financial units’ staff. The workshops aimed to enrich the particpants' knowledge of the related legal and regulatory requirements. It also clarified their responsibility to directly submit their reports to Kuwait Financial Intelligence Unit (KFIU), the mandated authority by virtue of the Law No. 106/2013.

Mr. Waleed M. Al-Awadhi, the Executive Director of Supervision Sector, stated that CBK has issued updated instructions to local banks and exchange companies regarding AML/CFT. He added that these two workshops are intended to clarify the updated instructions and the requirements of the Ministerial Resolution No. 35 of 2019 regarding the Executive Bylaws of the Implementation Committee of the UN Security Council Resolutions issued pursuant to Chapter VII of UN Charter on Combating Terrorism and Financing of Proliferation of Weapons of Mass Destruction Weapons.

Al-Awadhi underlined the fact that CBK has been regularly conducting workshops on AML/CFT for the CBK-regulated staff since the promulgation of the Law No. 106/2013. He highlighted the importance of cooperation with KFIU and the other concerned authorities to verify compliance with AML/CFT requirements in line with the relevant international recommendations issued by the Financial Action Task Force (FATF). Complying with the recommendations maintains the financial reputation of the State of Kuwait, and delivers tangible results on the mutual evaluations conducted periodically to ensure Kuwait’s compliance with the said instructions.

Al-Awadhi concluded his statement by stressing that these workshops and trainings enhance the awareness and know-how of the banking and financial sectors’ personnel and in line with its comprehensive and integrated supervisory framework.