Kuwait-Ministry imposes new controls on financial transfer overseas.

Assistant Undersecretary for Social Development Sector Affairs at the Ministry of Social Affairs and Labor Hana’a Al-Hajri has said the ministry has imposed new controls on the transfer of money (donations) outside the country, reports Al-Jarida daily.Al-Hajri said written approval is needed from the Ministry for financial transfer for the implementation of any project.

Transfers through personal accounts, or establishments not accredited by the Ministry of Foreign Affairs cannot be done. Al-Hajri added any charity wishing to send money abroad must submit a list of remittances and the name of the project, its license number in the ministry, the amount being transferred and the name of the foreign entity accredited by the Ministry of Foreign Affairs.

“In some cases, a Kuwaiti bank may not be able to transfer to any third party for several reasons, including in exceptional circumstances in the country where the project is being undertaken. In such cases, the ministries of Foreign Affairs and Social Affairs may have to coordinate to find an alternative for money transfer, she said.

She stressed the two ministries must be provided with a copy of transfer within seven days from the date of its execution with clear instructions to the foreign entities to provide Kuwait’s diplomatic missions copy of progress report every three months, showing the amount of money received from the Kuwaiti charity.

 

 

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