Kuwait Cabinet greenlights asset‑freezing powers and KD500K fines to fight terror financing
KUWAIT: Kuwait's Cabinet has approved a draft law aimed at enhancing the country's ability to combat terrorism and financial crimes by aligning national laws with United Nations Security Council (UNSC) resolutions.
The approval came during the Cabinet's weekly meeting and follows a recommendation from the Ministerial Legal Affairs Committee. The draft will now be submitted to His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah for final ratification.
Under the proposed amendments, the government will be empowered to implement necessary actions based on UN decisions, including freezing assets, blocking financial transactions, and listing individuals or entities suspected of involvement in terrorism or the proliferation of weapons of mass destruction.
The law states: 'Decisions will be issued by the Cabinet based on recommendations from the Minister of Foreign Affairs, and shall be effective from the date of issuance, while safeguarding the rights of individuals acting in good faith.'
Additionally, the Cabinet may delegate these powers to individual ministers, who in turn can form special committees to carry out these measures. The executive regulations will set out detailed rules on publishing decisions, handling appeals, managing frozen funds, and allowing limited releases of funds to cover essential living expenses, ensuring the use of such funds remains strictly controlled.
The draft law also introduces financial penalties ranging from KD 10,000 to KD 500,000 for violations of decisions issued under this legislation. These fines will be applied alongside any penalties imposed by financial regulatory authorities.
Existing laws and regulations addressing UN counterterrorism mandates will remain in force unless they conflict with the new amendments or are repealed.
An explanatory note accompanying the draft highlighted that the amendments are designed 'to provide the Cabinet, as the highest executive authority, with the legal framework necessary to fulfill Kuwait's international obligations without exceeding constitutional boundaries or infringing upon the rights of innocent individuals.' — Agencies
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