Kuwait: New Decision Requires Pharmacies to Restrict Payments to Prevent Money Laundering
Arab Times, 5 March 2023: A new ministerial decision has been issued by Mazen Al-Nahedh, the Minister of Trade and Industry, to prevent money laundering activities.
Private pharmacies and other entities operating in the drug control sector are required to limit the use of “Knet” as a means of payment to amounts exceeding 10 dinars.
Cash payments for any sale are also limited to amounts below 10 dinars.
Any violation of this decision may result in the imposition of penalties and measures in accordance with relevant laws and decisions by the supervisory authority.
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