The Central Bank of Kuwait has urged the public to remain vigilant against individuals and institutions conducting financial activities without official licences.
In a statement, the bank warned that unlicensed financial operations pose a serious threat to individuals’ savings and could negatively affect the country’s financial stability. Authorities advised residents to report any suspected illegal activities to the relevant authorities.
The Central Bank clarified that conducting financial transactions, offering loans or providing electronic payment links without an official licence from the bank is illegal. Engaging with such unauthorised entities could expose individuals to financial fraud and scams.
Officials emphasised that people should rely only on recognised banking institutions and authorised financial service providers to ensure the safety of their funds.
The bank has also established dedicated channels for reporting suspected illegal financial activities. Members of the public can provide information by calling 22972999 or by contacting the Central Bank through its official email channels.
Authorities stressed that cooperation from the public is essential in preventing financial fraud and protecting the integrity of Kuwait’s financial system.
