Kuwait Financial Intelligence Unit Signs Cooperation and Information-Sharing Agreement with the Public Authority for Industry

KWFIU News | 06 07 2026

The Kuwait Financial Intelligence Unit (KFIU) signed a Cooperation and Information-Sharing Agreement with the Public Authority for Industry (PAI) on Monday, with the aim of strengthening coordination and institutional cooperation between the two entities in combating money laundering, its associated predicate offences, and terrorist financing, as part of the State’s efforts to safeguard the integrity of Kuwait’s financial and economic system.
Acting Director General of the Public Authority for Industry, Shamlan Hamoud Al-Jaheidli, stated that the agreement represents an important step toward enhancing institutional cooperation between the two entities, supporting national efforts to combat money laundering, predicate offences, and terrorist financing within the legal mandates assigned to each party.
He added that the agreement establishes a framework for the exchange of relevant information and data in accordance with applicable legislation and legal controls, ensuring the provision of information within the Authority’s remit to support financial analysis and enhance the FIU’s ability to detect activities that may require legal action.
Al-Jaheidli explained that, within its legal mandate, the Public Authority for Industry will provide the FIU with information relating to industrial and craft plots, issued and cancelled licences, usufruct contracts, statistical data, and other information permitted by law to be shared, while ensuring the confidentiality, protection, and use of such information solely for the purposes specified in the agreement.
He noted that the agreement establishes clear mechanisms for exchanging information through secure and official channels, including electronic connectivity between the two entities, the designation of contact points, and procedures for handling both routine and urgent requests, thereby enhancing the speed, accuracy, and efficiency of information exchange and institutional coordination.
He further stressed that the agreement places significant emphasis on safeguarding the confidentiality and security of exchanged information in accordance with applicable laws and regulations. It also provides for periodic meetings to monitor implementation, evaluate cooperation mechanisms, and explore opportunities to further strengthen joint efforts in the public interest and improve institutional performance.
Al-Jaheidli affirmed that the agreement reflects the Public Authority for Industry’s commitment to strengthening cooperation with national authorities, promoting transparency and compliance, protecting the national economy, and supporting Kuwait’s framework for combating financial crimes.
For his part, KFIU Deputy Chairman Yousef Ali Al-Omar stated that the agreement establishes mechanisms for exchanging information and data between the two entities in accordance with applicable legislation, thereby enhancing institutional cooperation, strengthening compliance and oversight frameworks, protecting the national economy, and promoting transparency.
He added that the agreement provides a clear framework for cooperation and a structured mechanism for exchanging relevant information in line with applicable laws and regulations, contributing to more effective institutional coordination in support of financial analysis and financial crime investigations.
Al-Omar explained that the agreement regulates information exchange through official requests or approved electronic connectivity between the two entities. The exchanged information includes data maintained by the Public Authority for Industry relating to industrial and craft plots, industrial licences, statistical information, and any information identified by the Authority during the exercise of its functions that may be linked to money laundering or terrorist financing offences, within the limits permitted by law.
He further noted that the agreement includes clear safeguards governing the use of exchanged information, restricting its use exclusively to purposes related to combating money laundering, associated predicate offences, and terrorist financing. It also requires full compliance with confidentiality obligations and prohibits disclosure or onward sharing with any third party except as permitted under the agreement and applicable legislation.
Al-Omar added that the agreement also provides for regular consultative meetings between the two entities to monitor implementation, enhance cooperation, improve information exchange, support national efforts to combat financial crimes, and ensure compliance with relevant international standards.
The agreement was signed by Acting Director General of the Public Authority for Industry Shamlan Hamoud Al-Jaheidli and Deputy Chairman of the Kuwait Financial Intelligence Unit Yousef Ali Al-Omar.