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Kuwait bans unlicensed currency exchange as illegal operators risk jail, KD3,000 fine

4 months ago

Kuwait's Cabinet has approved a draft decree-law criminalizing unlicensed currency exchange and hawala operations. New penalties include up to six months imprisonment and fines up to KD 3,000 for individuals, with businesses facing closure and larger fines. This aims to strengthen financial oversight and combat money laundering.
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