KUWAITIS MAY BE OUTRAGED BY MALAYSIA'S FILING

  • 08/08/2022

Kuwait City: The case of "The Malaysian Sovereign Fund" has taken a dangerous turn that puts the nation, its reputation, and its international standing in jeopardy. Several Malaysians have started a campaign to gather signatures on the "Change" website to recover the funds they claim were looted by Kuwaiti officials and are still frozen in bank accounts inside Kuwait valued at USD 6.7 billion. 


The campaign had roughly 26,000 signatories as of Tuesday last week. Additional information was uploaded on the website, including new numbers and the identities of 17 Kuwaiti individuals who are familiar with the fund's issue but who were not questioned by the relevant national authorities. The campaign's signatories urged various decision-makers, such as the US Department of Justice, the Public Prosecution, and the Kuwait Anti-Corruption Authority (Nazaha), to take action on this case and return the stolen Malaysian funds. They said Nazaha and the Public Prosecution were silent on the corruption problem, which they claimed to be the biggest in the world. A table detailing the amount and date of the alleged money transactions that were to be repaid was included in the signed petition. 

On September 20, 2016, transfers of $70 million were made to the accounts of the Comoros Golf firm, owned by Bashar Kiwan. On August 28, 2017, a transfer of $1 billion was also made to Al-Sabah International General Trading Company. This transfer was split into eight separate payments. Additionally, $5 billion was transferred to Montrian International both in 2016 and 2018. In addition to outlining its demands to the Kuwaiti government, the campaign also threatened to pressure Malaysia's parliament to refer the case to the International Court of Justice in accordance with the United Nations Convention on Combating Cross-Border Organized Crime, which was signed by Malaysia and Kuwait. The petition included 12 demands from Kuwait, the most important of which are data of transfers received at the Chinese Bank branch, the parties that received these transfers and the names of officials and shareholders in these entities, as well as the names of all persons involved in the sovereign fund case, attached to the investigation reports conducted by the Kuwaiti authorities on this case, which it had kept it confidential.

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