Kuwait’s ‘Anti-Money Laundering’ Department Issues Preventive Measures Against 56 Violating Companies
The Kuwaiti Anti-Money Laundering and Terrorism Financing Department, which falls under the Ministry of Commerce and Industry, issued 56 preventive measures against violating companies in October.
In a press statement on Wednesday, the ministry explained that these measures included sending written warnings to 20 real estate companies, a notice to a money exchange company, two others to two insurance companies, and 17 to jewelry companies.
They also included issuing orders for three jewelry companies to follow specific procedures to comply with the law and avoid violations.
The Department has completed the licensing procedures for 34 establishment applications during the same month, including 27 real estate companies and seven jewelry companies, the statement added.
It also updated the data of 85 licenses, 60 of which are for real estate companies, two for exchange companies, 21 jewelry companies, and two insurance companies.
Meanwhile, Head of Kuwait’s Anti-Corruption Authority (Nazaha) Abdulaziz al-Ibrahim has affirmed the support for all efforts made to enhance integrity and combat corruption at the level of the Gulf Cooperation Council (GCC) states.
His remarks were made in a video-conference on Tuesday during the sixth meeting of the bodies responsible for protecting integrity and combating corruption in GCC.
Several articles in the field of combating corruption were discussed, topped by enacting the guiding law to protect GCC public funds.
Lebanese President Joseph Aoun (R) meets with Saudi Arabia's Foreign Minister Prince Faisal bin Farhan bin Abdullah (L) at the Presidential Palace in Baabda, Lebanon, 23 January 2025. (EPA)
Lebanese President Joseph Aoun (R) meets with Saudi Arabia's Foreign Minister Prince Faisal bin Farhan bin Abdullah (L) at the Presidential Palace in Baabda, Lebanon, 23 January 2025. (EPA)
Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah expressed on Thursday the Kingdom’s optimism over Lebanon’s future.
Prince Faisal was in Lebanon on Thursday on an official visit, the first by a Saudi FM in 15 years.
He held separate meetings with President Joseph Aoun, Prime Minister-designate Nawaf Salam, caretaker PM Najib Mikati and parliament Speaker Nabih Berri.
Saudi Arabia is a member of the quintet that helped end Lebanon’s presidential vacuum earlier this month when Aoun was elected. Lebanon is passing through a transition that requires serious support to consolidate its international commitments in implementing United Nations Security Council resolution 1701, deploying the army to the South, reconstructing the country after the war between Israel and Hezbollah and carrying out reforms.
Meeting with Aoun, Prince Faisal underscored the Saudi leadership’s keenness on Lebanon returning as a model for the region and an example of coexistence and prosperity.
He hailed Aoun’s leadership and inaugural speech which set Lebanon on the right path.
“The Kingdom will stand by Lebanon and follow step by step as it moves along this new path,” he added.
Saudi Arabia's Foreign Minister Prince Faisal bin Farhan bin Abdullah meets with Lebanese parliament Speaker Nabih Berri, in Beirut, Lebanon, January 23, 2025. (Lebanese Parliament/Handout via Reuters)
Moreover, he underlined the importance of the reforms that the new government will carry out upon its formation, conveying the openness of Prince Mohammed bin Salman, Crown Prince and Prime Minister, to suggestions that would lead Lebanon to a prosperous future.
The Saudi leadership is looking forward to meeting with Aoun to set the foundations for cooperation between their countries, remarked Prince Faisal.
“Despite the challenges we are facing in the region, the Kingdom is looking at Lebanon's future with optimism under the reformist approach that came in the president's speech after his inauguration,” he stressed.
“These reforms will boost the confidence of Lebanon's partners and open space for the country to regain its rightful place in the Arab and international spheres,” he added.
“We are confident the Lebanese leadership will seize the opportunity and work seriously to bolster Lebanon’s security and sovereignty and safeguard its institutions,” he remarked.
For his part, Aoun hoped relations between Saudi Arabia and Lebanon will become stronger in all fields and for Saudis to return to visit Lebanon once again.
He expressed his gratitude to Saudi Arabia in helping Lebanon, especially in ending the presidential vacuum that stretched for over two years.
Saudi Arabia's Foreign Minister Prince Faisal bin Farhan bin Abdullah meets with Lebanese Prime Minister-designate Nawaf Salam, at Salam's house in Beirut, Lebanon January 23, 2025. (Reuters)
He described Prince Faisal’s visit as a message of hope to Lebanon, recalling the historic bonds between their countries.
Before his departure, the FM conveyed the greetings of Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed over his election, wishing him success and that he would meet the aspirations of the people in achieving stability and progress in Lebanon.
Furthermore, he stressed to Aoun the importance of committing to the ceasefire agreement with Israel, including the implementation of resolution 1701 and relevant international agreements.
Meeting with Berri, Prince Faisal discussed with the speaker the latest developments in Lebanon and the region, as well as bilateral relations between Riyadh and Beirut.
Prince Faisal is set to leave for Syria later on Friday.
