Regulatory Alerts2021-10-25
Chapter Five: Data and Statistics Required from Exchange Companies by the Central Bank of Kuwait
The Central Bank of Kuwait requires Exchange Companies to submit standardized financial positions, foreign currency reports, and quarterly profit and loss statements according to detailed forms and strict deadlines. The directive mandates system compatibility via the EXC platform, adoption of International Accounting Standards, and precise classification rules for partners’ equity, contra accounts, and financial provisions. Companies must report daily foreign currency sales exceeding USD 35,000 on disc, maintain monthly cumulative statistics for smaller transactions, and ensure accurate balance sheet submissions within prescribed timeframes.
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