Regulatory Alerts2022-10-17
Supervisory and Regulatory Instructions for Exchange Companies
The Central Bank of Kuwait issues comprehensive supervisory and regulatory instructions governing the operational, financial, and organizational compliance of exchange companies. These directives mandate strict accounting treatments for client margins in forward exchange and precious metals contracts, enforce authorized business advertisements, regulate foreign currency speculation, and require detailed reporting on financial transactions, internal controls, and national labor force ratios. The updated circulars also standardize electronic and mobile payment services, clarify branch opening approvals, and increase the mandatory national labor ratio to fifteen percent while ensuring robust internal supervision systems.
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