Kuwait – “Money laundering dept” at Ministry tackles insurance
Wednesday, 03 02 2016, Category: Insurance and Reinsurance, Country: Kuwait
“An Anba” newspaper was informed that the department combatting money laundering and terrorism financing at the Ministry of Commerce and Industry prepared proposals to be included in the insurance companies and agents’ regulations which is currently being examined by the Council of Ministers which will update and amend it.
Informed sources said that a committee headed by the Minister of Commerce and Industry Dr. Youssef Al Ali and supervised a director of the ministry Mr. Khaled Shemali is studying the “Money Laundering dept” proposals in order to include the rules in the insurance draft law.
The Ministry of Commerce and Industry sent during the past period the draft insurance companies and agents’ law to authorities, which will add comments and suggestions on it.
Source: Al Anba