KUWAIT CITY, Aug 18: Central Bank of Kuwait recently provided Kuwaiti banks and exchange companies with the updated list of blacklisted international banks and institutions suspected of having connections with networks that finance terrorism and drugs, reports Al-Shahed daily quoting reliable sources.

They revealed that seven new names of international banks and institutions have been included in the updated list and these banks are located at Iran, Pakistan and Afghanistan.

They stressed that the banks and exchange companies in Kuwait were strictly instructed not to deal with any of the blacklisted banks or institutions.

They pointed out that due to increase in smuggled money around the world, Central Bank of Kuwait has become more cautious about such matters as they fear the local people could carry out large-scale money laundering or smuggling operations particularly after they received information about some local personalities’ tie-up with some international organizations.

They added that the Central Bank would soon issue a circular to implement the control of all kinds of financial frauds.