CIRCULAR FOR SEIZURE OF FUNDS OF CAR COMPANY IN KUWAIT

  • 21/10/2022

Kuwait City: The Central Bank of Kuwait has sent a circular to all local banks in the country and branches of foreign banks operating in Kuwait to seize the funds of two Kuwaitis and a car company. The Ministry of Justice, Ministry of Finance, Ministry of Commerce and Industry, Ministry of Home Affairs, Ministry of Transport, Capital Markets Authority and Public Authority for Industry have all been informed about the freezing decision.


The reservation decision is related to the issue of stopping money laundering. The decision also includes banning or exempting the companies and institutions from disposing of their commercial licenses and shares and prohibiting them from using them for any purpose. Also, vehicles registered in their names, bicycles, boats and water bikes are also barred from being operated.

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