To resolve illegal residency issues, a regulatory agency has urged banks to accept only valid cards

 
 
 

In order to resolve the status of illegal residents in Kuwait, the Central Agency has instructed the Central Bank of Kuwait to only accept cards issued by the agency for transactions involving illegal residents in order to resolve the issue.

Without coordination with the agency, no entity can take unilateral measures related to illegal residents. This move comes after some illegal residents refused to receive review cards issued to them by the agency, which led to suspicion that some transactions involving them may include money laundering. The agency has urged all concerned authorities to cooperate with it and adhere to its decisions and circulars, reports Al-Rai daily.

The Central Agency for Resolving the Status of Illegal Residents' instructions to the financial sector in this regard come within the framework of the established cooperation with it and the compliance of the concerned authorities with the decisions and circulars issued by it, as stipulated in Article 8 of the Emiri Decree No. Its creation dates back to 467 of 2010.

 
****************************************************
 
  
IFL Kuwait