KUWAIT CITY, July 20: The General Administration of Customs and the Ministry of Interior, represented by the General Department for Combating Money Laundering and Terrorism Financing, signed a Memorandum of Understanding (MoU) on Sunday aimed at boosting joint cooperation and information exchange in combating financial crimes.

The agreement, signed in the presence of senior leaders and officials from both sides, aligns with the international standards set by the Financial Action Task Force (FATF). According to a statement from the General Administration of Customs, the MoU is part of Kuwait’s ongoing efforts to enhance institutional coordination among agencies involved in fighting money laundering and terrorism financing.

The MoU seeks to improve the efficiency of data sharing and strengthen supervisory measures, thereby supporting the national framework designed to reduce financial crimes and reinforce Kuwait’s commitment to global standards.

Both parties emphasized the critical role of this collaboration in achieving the country’s strategic objectives. They also highlighted the importance of integrating regulatory and executive bodies to create a secure and stable environment that protects Kuwait’s financial system.