Manama: Chairman of the Kuwait Financial Intelligence Unit (KFIU) and Chairman of the National Committee, Dr. Hamad Al-Mekrad, affirmed Kuwait's strong commitment to supporting international partnerships in confronting common challenges related to money laundering and financing of terrorism.
According to Kuwait News Agency, this statement was made on the sidelines of Dr. Al-Mekrad's participation in the 41st General Meeting of the Middle East and North Africa Financial Action Task Force Group (MENA FATF) held in Manama, Bahrain. The meeting, which took place from November 9 to 13, included participation from both national and international committees focused on combating money laundering and terrorist financing.
Dr. Al-Mekrad noted that the meeting involved discussions on prominent challenges and modern approaches in the field of combating money laundering and terrorist financing. Several meetings of technical and regional working groups were also held during the event.
He highlighted that KFIU signed a memorandum of understanding on the sidelines of the meeting with the Tunisian, Libyan, and Mauritanian Financial Intelligence Units. This move is part of KFIU's continued efforts to expand its international cooperation network with counterparts from the Financial Intelligence Units that are members of the group.
Dr. Al-Mekrad emphasized that the signing of the memoranda represents a significant step towards strengthening cooperation in the field of financial intelligence exchange. He stated that expanding the scope of international cooperation and enhancing the efficiency of information exchange is a priority in the next phase. The MoU contributes to supporting the efforts of the involved countries in combating financial crimes and improving the efficiency and effectiveness of relevant national systems.