New decision requires pharmacies to restrict payments to prevent money laundering

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KUWAIT CITY, March 5: The Minister of Trade and Industry, Mazen Al-Nahedh, has issued a new ministerial decision aimed at preventing money laundering activities. Under the decision, private pharmacies and other entities within the drug control sector are required to restrict the use of “Knet” as a means of payment to amounts exceeding 10 dinars. The decision also limits cash payments to amounts below 10 dinars for any sale.

Any violation of the decision may result in the imposition of penalties and measures in accordance with relevant laws and decisions by the supervisory authority.

This news has been read 14655 times!

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