National Committie News
President of KwFIU and the National Committee: Relevant Authorities Continue Efforts to Fulfill Assessment Requirements and Address Observations
Hamad Al-Mekrad, President of the Kuwait Financial Intelligence Unit and the National Committee for Combating Money Laundering and Terrorism Financing, affirmed that the relevant authorities are continuing to work in a coordinated and intensive manner to meet assessment requirements and implement the Financial Action Task Force’s action plan. This came in a statement issued Tuesday by the Kuwait Financial Intelligence Unit to the Kuwait News Agency (KUNA), following a meeting of the National Committee for Combating Money Laundering and Terrorism Financing, chaired by Dr. Al-Mekrad and attended by representatives of member authorities at the KwFIU’s headquarters. Dr. Al-Mekrad added that the National Committee is moving forward with implementing corrective measures and enhancing the effectiveness of the national system, reflecting the State of Kuwait’s commitment to international standards and strengthening the integrity and soundness of the country’s financial system. He explained that the meeting comes as part of follow-up efforts to the outcomes of a meeting held yesterday between His Highness Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, Prime Minister, and representatives of several committee Authorities, which addressed ways to further elevate national efforts in combating money laundering and terrorism financing. He noted that the meeting discussed the latest developments in advancing the national framework, explored mechanisms to improve coordination among relevant authorities, enhance national preparedness, and reviewed key challenges and ongoing efforts to comply with relevant international standards.
Financial Action Task Force (FATF) Commends Kuwait’s “Significant” Efforts and Progress in Combating Money Laundering and Terrorism Financing
The Financial Action Task Force (FATF) praised the significant efforts and notable progress made by the State of Kuwait in combating money laundering and terrorist financing during the group’s plenary meeting. The group confirmed that Kuwait has successfully addressed approximately 95% of the recommended actions outlined in the Mutual Evaluation Report since June 2024, reflecting a clear indication of political commitment and integrated institutional efforts to enhance the effectiveness of the national framework and align it with international best standards. A supportive action plan was also adopted to ensure the sustainability of further development. For his part, the Minister of Electricity and Water and Renewable Energy of the State of Kuwait, Dr. Sabeeh Al-Mukhaizeem, speaking on behalf of the Minister of Finance and Supervisor of the National Committee for Combating Money Laundering and Terrorist Financing, represented the Government of Kuwait at the meeting held in Mexico City. According to the same statement, he affirmed Kuwait’s full commitment at the highest levels to close cooperation with the FATF and international partners, noting that the objective is “to continue progress and further strengthen the anti-money laundering, counter-terrorist financing, and counter-proliferation financing framework, thereby reinforcing Kuwait’s important role as an international partner in safeguarding the integrity of the global financial system and its leading position in this field.”