Kuwait: Banks Must Disclose Records of Specific Individuals and Institutions

Kuwait: Banks Must Disclose Records of Specific Individuals and Institutions News developments

Kuwait: Banks Must Disclose Records of Specific Individuals and Institutions

Arab Times, 26 April 2022: Kuwait’s Central Bank has issued a Circular requiring some local banks to disclose records of specific individuals and institutions.

They relate to several accounts belonging to a marine equipment company.

They also relate to financial records of seven citizens going back eight years.

The Central Bank has issued the request following a request from the Public Funds Prosecution and Anti-Money Laundering.

The country’s Public Prosecution must be provided with all of the relevant information about the company accounts and the seven individuals for 1 January 2014 to 1 January 2021.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

marle.vansandwyk@lexisnexis.com