Kuwait Commerce, Interior Ministries ink MoU to combat money laundering

20/05/2025

Kuwait Commerce, Interior Ministries ink MoU to combat money laundering

KUWAIT CITY, May 20: The Ministry of Commerce and Industry and the Anti-Money Laundering and Combating the Financing of Terrorism General Department at the Ministry of Interior on Tuesday signed a Memorandum of Understanding (MoU) to strengthen collaboration in the fight against money laundering and terrorist financing. Various officials from both ministries attended the signing ceremony. The objectives of the MoU are to facilitate the exchange of information and data, improve integration in regulatory processes, and enhance the efficiency of managing reports and suspected cases.

It aims to aid in bolstering the national framework for combating money laundering and terrorist financing, while adhering to the best international standards. Both parties highlighted the significance of this collaboration in achieving the country’s strategic objectives and improving institutional coordination among regulatory and enforcement bodies; thereby, increasing the effectiveness of efforts to combat all forms of financial crimes.

By Marwa Al-Bahrawi Al-Seyassah/Arab Times Staff