Who ultimately owns or controls business?

MANAMA, Bahrain, Sept 30: The State of Kuwait, represented by Kuwait Anti- Corruption Authority (Nazaha), participated in the 12th Meeting of the Ministerial Anti-Corruption Committee of the States of the Cooperation Council for the Arab States of the Gulf (GCC), held in the Kingdom of Bahrain. Kuwait’s delegation was headed by Nazaha President, Dr. Rana Abdullah Al- Fares. The meeting brought together the heads of the anti-corruption bodies of the GCC Member States and was attended by GCC Assistant Secretary- General for Legislative and Legal Affairs. The meeting adopted the recommendations of the specialized GCC workshop “Combating Corruption and Identifying Beneficial Owners,” organized by Nazaha in coordination with the GCC Secretariat General in July 2026. The workshop brought together the anti-corruption bodies and the ministries of commerce and industry of the GCC Member States, as well as the United Nations Office on Drugs and Crime (UNODC). The workshop addressed the identification of the persons who ultimately own or control companies, and the importance of this information in combating corruption and curbing the use of companies to conceal its proceeds.

The adoption of its recommendations supports GCC efforts to enhance ownership transparency and cooperation among competent authorities. The meeting also discussed several topics and proposals aimed at advancing joint GCC action in preventing and combating corruption, including studying the development of a joint GCC anti-corruption strategy to help coordinate efforts and share expertise among Member States. It further discussed a proposal to hold a workshop entitled “Mechanisms for Enhancing Integrity and Compliance in the Private Sector,” as part of efforts to build national capacities and support the private sector’s role in safeguarding integrity and embedding responsible business practices.

In addition, the meeting approved the evaluation results for the research papers submitted to the 2026 GCC Research and Studies Competition in the Fields of Integrity Protection and Anti-Corruption, held under the theme “Combating Corruption through Non-Judicial Means: Theoretical Approaches and Practical Experiences.” Nazaha’s participation in the meeting reflects the State of Kuwait’s commitment to contributing to the development of joint GCC initiatives and supporting cooperation among anti-corruption bodies, in a manner that promotes integrity and transparency, safeguards the achievements of the GCC Member States, and serves their peoples.