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failed to comply with the provisions of this law, its Executive Regulation or any Ministerial
decisions or instructions , the supervisory authority may impose one or more of the following
measures or sanctions:
(1) Issue written warnings;
(2) Issue an order to comply with specific instructions;
(3) Issue an order to provide regular reports on the measures taken to address the
identified violation;
(4) Impose a fine on the violating financial institution not to exceed Dinars 500,000 per
violation;
(5) Ban individuals from employment within the relevant sectors for a period to be
determined by the supervisory authority;
(6) Restrict the powers of directors, board members, executive or supervisory
management members, and controlling owners, including appointing a temporary
controller;
(7) Dismiss or replace the directors, members of the Board of Directors or of executive or
supervisory management;
(8) Suspend, restrict or prohibit the continuation of the activity, business or profession;
(9) Revoke the license;
(10) Withdraw the license;
The Executive Regulation may provide for other measures.
Section 2 – KUWAIT FINANCIAL INTELLIGENCE UNIT
Article 16
A Unit called the "Kuwait Financial Intelligence Unit" shall be established. It shall be an
independent legal person and serve as the agency responsible for receiving, requesting,
analyzing, and disseminating information concerning suspected proceeds of crime or funds
related, linked to or to be used for money laundering or terrorism financing according to the
provisions of this Law.
The Council of Ministers, based on the recommendation of the Minister of Finance, shall
issue a Resolution forming the Unit and determining its affiliation, organization, and
resources.
The staff of the unit shall keep confidential any information obtained within the scope of
their duties, even after cessation of those duties within the FIU. Such information may only
be used for the purposes provided for under this Law.
Article 17
The Unit shall identify high-risk countries and prescribe the measures to be applied in
relation to such countries. Supervisory authorities shall ensure compliance by financial