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Kuwait bans remittances to twelve countries
May 19, 2015, 9:12 am

Kuwait is blacklisting twelve countries, including Arab states, after recently discovering that they were transferring funds to terrorist groups, a well informed ministerial source said to a local daily. The source explained that the blacklisted countries include some islands known to host offshore accounts of companies that run illegal businesses for the sake of money laundering, eventually using such funds to support terrorist groups.

The names of the countries involved were not disclosed in the report. Further, the source stressed that Kuwait was following Gulf Cooperation Council and other Arab states’ directions after the blacklisted countries have been witnessing some political and security tensions, and are not currently being ruled by internationally acknowledged governments. “Once the list is approved, it will be published in the official gazette,” added the source.

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