Regulatory Alerts2022-04-21
Ministerial Resolution No. 38 of 2011 regarding the Central Bank of Kuwait Supervision over Financing Companies
Issued by the Minister of Finance, this resolution establishes comprehensive supervision rules for financing companies under the Central Bank of Kuwait. It defines financing entities, prohibits them from conducting securities activities, full banking business, or foreign exchange for others, and mandates a minimum paid-up capital of 15 million Kuwaiti Dinars. The framework outlines a detailed registration process, board and executive approval procedures, ongoing risk management requirements, and inspection powers to ensure financial soundness.
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