Kuwait has issued strict new measures to combat money laundering and the financing of terrorist organisations, Kuwait's al-Rai reported Thursday (January 3rd).
Under new instructions issued by the Ministry of Trade, store owners, their partners and workers will be required to check the identity of clients and ensure no illegal transactions are conducted through their businesses.
All transactions which exceed 3,000 Kuwaiti dinars ($10,626) must be recorded, and ledgers and inventory books including details of all transactions must be kept for at least 10 years.
Kuwait cracks down on money laundering | Al-Shorfa
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