AlRai Media, 19 May 2026: The Ministry of Commerce and Industry and the Insurance Regulatory Unit have opened channels for regulators and law‑enforcement bodies to report suspected inaccuracies in beneficial ownership records via the electronic commercial registry, reinforcing transparency and compliance in Kuwait’s investment environment.
The initiative requires reports to be submitted with supporting documentation, aiming to curb misuse of legal entities to conceal ownership or control. Simultaneously, the Capital Markets Authority (CMA) has mandated that applicants for securities activity licences submit due diligence forms before applying, strengthening Know Your Customer (KYC) procedures and verification of beneficial owners. Existing licensees are exempt, provided they update their data in line with approved rules.
Sources confirmed that these measures reflect a comprehensive regulatory approach to improve data quality, align with international standards, and prevent exploitation of corporate structures for illicit purposes.
In parallel, the Ministry of Commerce and Industry organised 57 training workshops for supervised entities, in coordination with the Kuwait Financial Intelligence Unit, focusing on suspicious transaction reporting and detection mechanisms. These efforts complement the work of the Anti‑Money Laundering and Counter‑Terrorism Financing Department, underscoring Kuwait’s commitment to raising awareness, strengthening compliance, and protecting the financial and commercial systems in line with FATF recommendations.
For the full story, click here.