Kuwait city: Head of the Kuwait Financial Intelligence Unit (KFIU) and Chairman of the National Committee for Combating Money Laundering and Terrorism Financing, Dr. Hamad Al-Mukrad, engaged in discussions with officials from the US Department of the Treasury to address mutual concerns and explore opportunities for strengthening bilateral cooperation.
According to Kuwait News Agency, the meeting, which included representatives from Kuwait's Ministries of Foreign Affairs and Interior and the General Administration of Customs, focused on Kuwait's recent advancements in implementing measures from The Financial Action Task Force (FATF) evaluation report published last October. Dr. Al-Mukrad highlighted significant steps such as amendments to Law No. 106/2013 on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) and revisions to the International Cooperation Law related to legal assistance and extradition.
Dr. Al-Mukrad also emphasized the National Committee's efforts, including preparing a national risk assessment report and initiating a year-long awareness campaign in the private sector for AML and CFT compliance. He noted that KFIU has enhanced domestic coordination with financial institutions to improve the reporting quality and effectiveness of Kuwait's AML/CFT framework. Ambassador Hamad Al-Meshaan, Assistant Foreign Minister for Development and International Cooperation Affairs, stated that cooperation with the US in AML/CFT and combatting violent extremism remains a fundamental aspect of the bilateral relationship. He mentioned that progress has been achieved through joint listings and sustained coordination between competent authorities, demonstrating both countries' commitment to addressing security challenges and supporting global stability.
Both parties agreed to enhance cooperation through joint workshops, capacity-building initiatives, and information-sharing to strengthen efforts at national and international levels. Earlier discussions between First Deputy Prime Minister and Interior Minister Sheikh Fahad Al-Yousef Al-Sabah and US Secretary of Homeland Security Kristi Noem reaffirmed Kuwait's commitment to advancing security cooperation with the US, particularly in counter-terrorism, organized crime, and cybersecurity.