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Kuwait makes headway in fight against money laundering |
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Monday, 07 December 2009 00:16 |
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Kuwaiti Minister of Commerce and Industry Ahmad Al-Haroun said here Sunday his country had notched up tangible results in the fight against money laundering locally and regionally.
As part of its anti-money laundering efforts, Kuwait has joined a Gulf anti-money laundering group, which is entrusted with laying down regulations and systems for combating the phenomenon, the minister addressed an ongoing conference on the fight against money laundering.
Kuwait has also contributed to the creation of the Middle East and North Africa Financial Action Task Force in a bid to bolster and develop international criteria for combating the crime, he said.
It has also set up a special unit for financial investigations within the framework of its anti-money laundering efforts, he added.
Moreover, there is a national committee for fighting money laundering and terrorist finance, which mainly aims to protect and safeguard Kuwait's national economy against potential perils and risks, the minister pointed out.
The Kuwaiti Ministry of Commerce and Industry is really doing its utmost to rein in such a serious phenomenon, he said. - Kuna
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