Kuwait
6 regulators · 15 laws & regulations · 4 obligations · 1 enforcement action
| Obligation | Timing | Regulator | Arises from | Source | Detail |
|---|---|---|---|---|---|
| All industries | |||||
| Duty to report corruption and protection of whistleblowers | — | Nazaha | Law No. 2 of 2016 on Establishing the Kuwait Anti-Corruption Authority and the Provisions on Disclosure of Assets and Liabilities | source | |
Art. 37 makes it the duty of every person to report corruption offences, and Art. 40 provides that a whistleblower is protected from the time the report is submitted. Art. 51 penalises disclosing a whistleblower's identity, and Art. 52 voids administrative action taken against a whistleblower for reporting. There is no separate whistleblowing channel duty for private employers in the text read. |
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| Banking | |||||
| Annual sustainability reporting by local banks | Frequency Annually | CBK | CBK Circular No. (2/BS, IBS/500/2022) to All Local Banks regarding Sustainable Finance | official | |
Point 11 of the circular directs local banks to publish a sustainability report or dedicated section in the annual report on their website each year. Point 12 directs climate-related risks to be identified, measured and reflected in the ICAAP. The circular gives no deadline. |
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| Capital Markets | |||||
| AML/CFT reporting by CMA-licensed persons | Deadline Immediately (Art. 1-5) | CMA | CMA Executive Bylaws, Book 16: Anti-Money Laundering and Countering Terrorist Financing | official | |
Book 16 requires a senior compliance officer (Arts. 2-2 and 4-5), customer due diligence (Art. 5-3), retention of transaction records for at least five years (Art. 6-4), and immediate reporting of suspected money laundering or terrorism financing to the Unit (Art. 1-5). The extracted text uses a chapter-article numbering format. |
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| Crypto / VDA | |||||
| No virtual asset services: prohibition and customer risk warnings | — | CMA | CMA Circular No. (10) of 2023 to All Financial Institutions and Specified Non-Financial Businesses and Professions on the Procedures Required for Transactions Associated with Virtual Assets | official | |
Circular No. 10 of 2023 prohibits virtual assets as a means of payment, dealing in them as an investment or offering that service, issuing licences for virtual asset services and mining. Institutions must warn customers of the risks. Art. 15 of Law No. 106 of 2013 applies to violators. No VASP licensing or travel-rule regime was found. |
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| No obligations match these filters. | |||||