Kuwait said to ban remittances to 12 countries
Kuwait working to ban remittances to 12 countries, including Arab states, claiming the locations are being used to funnel funds to terrorists, Arabic daily Al Anbaa has reported, citing a ministerial source.
The blacklisted countries include islands known to host offshore accounts of companies that run illegal money laundering businesses, including as a method to transfer funds to terrorist groups, and states presently in conflict and not being run by internationally acknowledged governments.
The source did not reveal the names of the countries and there has been no official announcement from the government.
It was claimed other Arab states, including in the GCC, also were considering similar blacklists.
“Once the list is approved, it will be published in the official gazette,” the source claimed.