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Thursday , October 21 2021

Payment proof required from buyer to seller for vehicle ownership transfer

KUWAIT CITY, Sept 14: The Undersecretary of Traffic and Operations department, Major General Jamal Al Sayegh issued a circular that a vehicle buyer has to provide proof of mode of payment made towards purchase of vehicle from the seller. The vehicle has to be purchased either by cheque payment or bank transfer, with these proof of documents transfer of vehicle will be approved.

This decision has been made to put a curb on money laundering operations that take place as luxury vehicles in recent times have been bought and sold through cash payment, such decision will deter suspicious operations.

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