Kuwait is free of money-laundering operations, according to Minister of Commerce Ahmad Al-Haroun, who revealed that a conference is to be held on this subject on Dec 5, which aims to raise awareness of the great damage that this activity can cause to the national economy. He explained that the conference forms part of the commerce ministry's efforts to counter these illegal practices, reported Al-Watan.
Meanwhile, finance minister Mustafa Al-Shamali revealed that the cabinet has made four amendments to the controversial insolvency fund, as follows: Borrowers who took out loans before Dec 31, 2008 will be able to benefit from the fund, Beneficiaries will be able to borrow from the fund more than once, The fund's capital is to be increased, The fund is to remain open to applicants for four more months than was originally planned. Al-Shamali indicated that the new amendments will be submitted to parliament to enable MPs to rule on them.END
No comments:
Post a Comment